Yves Mirabaud is a senior partner of Mirabaud Bank, a wealth manager founded in 2012 by his family. The company has managed $37 billion by the end of 2020.
Yves Mirabaud in an interview said that Mirabaud’s bank financial results for the year 2020 were disappointing because the profit dropped greatly. This is in comparison to 2018 and 2019, which had amazing revenue. However, they count 2020 as one of the five best years in the brand’s 200-year history considering the circumstances around the Covid-19 pandemic. A 15% return of equity is beyond the expected range.
Unfortunately, the revenue dropped by 8% compared to other previous years. This fall was due to several factors and the business experienced the US dollar’s weakness. As for the commission and trading income, the company managed all client portfolios in March, just before the market crisis began.
As a result, clients didn’t have many complains and about 60% clients were passively invested. For the Mirabaud clients and the performance of their portfolios, it was favorable, but the company’s revenue took the hit.
A senior partner at Yves Mirabaud says that they may seem old-fashioned and conservative, but their culture isn’t to be in the market aggressively. Yves Mirabaud’s goal is to ensure client comfort and that’s why they didn’t receive any complains. The already-managed portfolios had less volatility and the performance was favorable under all circumstances.
The brand had two diverging developments: in asset management and wealth management clients. Despite Mirabaud’s spending dropping sharply from 2019, they’re not cutting costs even after the Covid-19 period. What’s more, currently, the company has no plans to keep expanding geographically. They prefer to consolidate their business in Latin America and Middle East. As for technology, Yves Mirabaud says they have reached limits of a propriety technology platform, thanks to their three decades of developing. Go to this page for more information.
Find more information about Mirabaud on https://ch.linkedin.com/in/yves-mirabaud-b7914a17