Falcon Private Bank is busy rebuilding its reputation and business and has added another former manager of Banque Cramer to fill a leading role at the Zurich offices.

Placido Albanese is the new head of advisory services at Falcon Private Bank. He started in his new position at the beginning of the year, a spokesman for the bank told finews.com.

Until the last summer, Albanese was chief investment officer at Banque Cramer. He is the second former executive of Cramer to join Falcon. In December, Matteo Maccio was hired as head of finance. He was Cramer’s chief risk officer.

Rebuilding Exercise

With this latest appointment, Falcon is making another step to put its business back on track. The Zurich-based bank, which is controlled by Abu Dhabi, had suffered a string of high-profile departures following rumors about an imminent sale.

The bank had its reputation tarnished by the money-laundering scandal involving Malaysia’s state fund 1MDB. In December, CEO Martin Keller told finews.com that the Abu Dhabi-based owners supported the bank in its quest to put things right and to invest in new personnel.