Abu Dhabi-owned Falcon to buy C.Suisse arm Clariden Leu (Europe)

DUBAI, Oct 4 (Reuters) - Falcon Private Bank, a Swiss-based wealth manager owned by Abu Dhabi fund Aabar Investments, has agreed to acquire Clariden Leu (Europe), a fully-owned subsidiary of Credit Suisse , a statement from Falcon said on Thursday.

No financial details of the transaction was provided. The acquisition is expected to close in the first-quarter of 2013, the Falcon statement said.

London-based Clariden Leu (Europe) had assets under management of over 2 billion Swiss Francs ($2.13 billion) as of August 31, 2012.

UBS acted as financial adviser to Falcon Private Bank.

($1 = 0.9378 Swiss francs)

(Reporting by Stanley Carvalho, Writing by Dinesh Nair; Editing by David French)

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