ZURICH Oct 5 Switzerland's Falcon Private Bank
is not up for sale, the bank said on Wednesday, knocking down a
media report its new chief executive is under pressure to find a
buyer days into the job.
"Falcon Private Bank is not and was not for sale," the
Zurich-based bank, owned by Abu Dhabi sovereign wealth fund
International Petroleum Investment Co (IPIC), said in
Swiss finance blog InsideParadeplatz on Wednesday reported
its owners had given Chief Executive Walter Berchtold, in the
job since Oct. 1, a directive to sell the bank.
The report cited Geneva-based Banque Heritage as a possible
buyer. Falcon said it had never held talks with Heritage over a
(Reporting by Brenna Hughes Neghaiwi)