Effective October 1, Berchtold will succeed Eduardo Leemann as the Swiss bank’s CEO.
Leemann will remain with the bank as senior advisor, as he intended to retire from operational management at the age of 60, the firm said in a statement.
Berchtold, aged 54, has worked independently since 2013 after stepping down from Credit Suisse’s executive board. He has been a member of Falcon’s board of directors since March 2015.
The Monetary Authority of Singapore said in July that it is probing Falcon PB, along with three other banks, regarding the scandal-ridden Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB).
Falcon PB was found to have had substantial breaches of anti-money laundering regulations, according to a MAS statement.
A Falcon PB spokeswoman said the firm is “in full cooperation with the authorities” regarding the MAS probe and “will comment further when the investigations are complete.”
BNPP IP
Separately, BNP Paribas Investment Partners, Christian Bucaro changes his role to Singapore CEO from head of private wealth for Asia-Pacific.
His predecessor, Puay-lit Tan, has resigned to pursue personal interests, the firm said.
Christian Bucaro
Bucaro will be responsible for “continuing to expand and consolidate BNP Paribas Investment Partners’ offerings to the region’s private banking clients, particularly in the multi-asset solutions space”, and also “overseeing Singapore’s business interests, and driving local strategy across all client groups”.
Bucaro joined BNPP IP in 2005 and worked in Italy and London where he held business development and distribution-related roles.
