People: JP Morgan gets new Australia CEO; Falcon Private Bank replaces two board members

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People walk by the JP Morgan & Chase Co. building in New York in an October 24, 2013 file photo. REUTERS/Eric Thayer/Files

J P Morgan’s Australia CEO Rob Priestly is leaving the bank after a 15-year stint while Falcon Private Bank has replaced two of its Abu Dhabi representatives.

JP Morgan gets new Australia CEO

J P Morgan’s Australia CEO Rob Priestly is leaving the bank after a long innings of 15 years at the US-based bank.

He will be succeeded by Paul Uren from the bank itself, according to a report from finews on Wednesday.

Uren will retain his role as head of investment banking for Australia. Before joining the US bank, Uren held investment banking positions at Goldman Sachs and Salomon Smith Barney.

Meanwhile, Priestly will take the role of chairman of J.P. Morgan Australia and New Zealand. The position was earlier occupied by Sir Rod Eddington who is now establishing the Asia Pacific advisory council.

Falcon replaces two board members

Swiss bank Falcon Private Bank has replaced two Abu Dhabi representatives Murtadha M. Al Hashmi and H.E. Khaled Balama AlTameemi who are leaving Falcon’s board, after a special shareholder meeting.

The restructuring is seen as a fallout of the alleged corruption scandal related to Malaysia’s wealth fund 1MDB. Abu Dhabi owns Falcon through investment firm Aabar Investments PJS.

According to media reports, Falcon has appointed Cyril Latroche as the new member of the board.

Latroche, an Aabar Investments executive, currently focuses on the financial services sector. Before joining Aabar, Latroche was responsible for the strategic development and the asset management activities of Mubadala GE Capital.

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