Yves Mirabaud
Yves Mirabaud is the Senior Managing Partner at the Mirabaud Group and holds a degree from the Graduate Institute of International Studies in Geneva. Yves Mirabaud professional background includes being the Managing Partner at the Mirabaud group from 1996 to 2013 and having had banking experience with various institutions in Switzerland and America. He is also the President of the Geneva Financial Centre Foundation and a member of the Board of Directors of the Geneva Chamber of Commerce, Industry and Services.
Yves Mirabaud, a Senior Partner at the eponymous Genevan wealth manager, recently spoke with Finews.com about their 2020 financial results, which seem disappointing at first glance. However, given the circumstances around Covid-19 this year, the 15 per cent return on equity is estimable. For 2020, the weakening of the US dollar may have influenced our interest business. As for our commissions and trading income, we secured our actively managed client portfolios in March before the financial market turbulence.
It seems that Covid-19 had some unintended consequences for Mirabaud. The strong net new money in asset management and private banking, while the increase in the number of advisers came to a standstill. Bolling things out, it seems Mirabaud is cutting costs. There are a few strategies Mirabaud has taken to cut costs. First, sponsoring events has been drastically reduced thanks to Covid-19, which also reduced travel and entertainment spending. Second, Yves Mirabaud has reduced its headcount by hiring only when necessary or when there are opportunities where they’re confident they can add employees.
Yves Mirabaud is also gradually building up its team in Paris and Zurich. Paris is good for corporate finance transactions, like M&As and private equity. Zurich is good for regional banking and wealth management. The company has already seen some success with these hires in Zurich, with several deals coming through the pipeline already this year. Refer to this article for more information.
Find more information about Yves Mirabaud on https://www.abps.ch/en/members/mirabaud-cie-sa/