Falcon Private Bank is developing pension schemes to manage retirement savings for expatriate workers in the UAE.
The Swiss bank is considering offering pension schemes for companies operating in the Emirates in a similar fashion to the 401(k) scheme in the US, where both companies and employees invest in a pool of assets overseen by external fund managers.
The bank is hoping to launch its pension management scheme within the next two to five years, said Eduardo Leemann, its chief executive. "It's something that's not very well known in the UAE. For us it's an opportunity, we want to be there and see what kind of share we can capture."
Click here to read the full story : The National
