DUBAI: Falcon Private Bank, the wealth manager owned by an Abu Dhabi sovereign wealth fund, is warning that the US could be heading for a recession as a strong dollar, the presidential elections and Britain’s potential exit from the European Union shake investor confidence.
After seven and a half years of good profit margins, “global champions within the US are struggling to grow earnings outside the country” as the currency’s strength dampens international interest, David Pinkerton, the Zurich-based chief investment officer for Falcon, said in an interview yesterday at Bloomberg’s Dubai offices.
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
