Yves Mirabaud Opens Up About The Recent Happenings At Mirabaud Group
There are very few financial sector firms with a rich history like that of the Mirabaud Group. This Genevan private bank has been around for more than 200 years. However, the economic disruptions caused by the pandemic have shaken up the firm. Not so long ago, Yves Mirabaud, the firm’s senior managing partner, opened up about the recent happenings at Mirabaud Group.
A disappointing year
Yves Mirabaud is the top executive at the Genevan private bank, and he said that 2020 was a tough year for the firms, just as it was for many other businesses across all sectors. This is because nobody in the financial sector expected that the pandemic would cause the disruptions that it did.
Yves Mirabaud noted that the firm was forced to significantly cut down on its business activities and take a hedging strategy as soon as the pandemic started. He stated that the Mirabaud Group witnessed an 8% fall in revenue during the year. Despite this, the hedging strategy limited the pandemic’s impact on the firm, and it still expects to hit a 15% return on equity.
Strengthening the private bank’s position
Yves Mirabaud said that the Mirabaud Group had hired several top-notch private bankers to help it strengthen its business in its seven markets. As part of its strategy to enhance its business, it has also cut down on its equity’s brokerage operations. He noted that the first batch of the new hires would be joining its Paris and Zurich offices. They will play a critical role in ensuring that the private bank stays competitive in the region’s corporate finance advisory.
In addition to this, the Mirabaud Group has launched a real estate private equity fund with a $1 billion kitty. This fund will be dedicated to the real estate sector in the United States. Yves Mirabaud pointed out that the private bank will also be focusing on making investments in the technology sector. Visit this page for additional information.
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