Yves Mirabaud On The Situation Around Covid-19

Yves Mirabaud discusses the Covid-19 situation, how the Mirabaud managed the situation, and the new technology they are about to adopt. Yves is the senior partner of the Genevan wealth manager, Mirabaud, founded by his family. He has a solid banking career with experience working with various banking institutions in Switzerland and the USA. He later joined Mirabaud in 1996 as a managing partner and later became the firm’s chairman of the board of directors till his promotion to the senior managing partner in 2012.

Despite the disappointing drop in the bank’s financial results in 2020, Yves Mirabaud believes that 2020 was one of the best five years of the bank’s 200 years history, owing to the fifteen percent return on equity and the circumstances around the pandemic. They had an eight percent fall in revenue, mainly influenced by the weakness of the US dollar resulting from the tricky Covid-19 financial situation.

Despite the fall in revenue, Yves Mirabaud put its client’s interest ahead of the revenue. They embraced the hedging strategy when many of their peers benefited from the trading boom. The approach seems old-fashioned and conservative, but it played a huge role in maintaining their clients’ portfolios with less volatility. Their clients were contented since the performance was favorable in almost all cases.

The Covid-19 situation led to increased wealth management clients looking for a haven in Switzerland. Mirabaud was also cautious in its spending, where the pandemic triggered direct savings in sponsoring events, travel, and entertainment. Mirabaud is conservative in recruiting big teams of client advisors. This conservativeness results from the trend where advisers move on after two or three years, and Mirabaud holds that they cannot and do not want to afford such a situation. Visit this page for additional information.

Yves Mirabaud confirms that they are evaluating a new core banking system in terms of technology. He adds that this is a propriety technology platform they have been developing for nearly three decades.

More about Yves Mirabaud on https://de.wikipedia.org/wiki/Mirabaud-Gruppe

Yves Mirabaud discusses the Covid-19 situation, how the Mirabaud managed the situation, and the new technology they are about to adopt. Yves is the senior partner of the Genevan wealth manager, Mirabaud, founded by his family. He has a solid banking career with experience working with various banking institutions in Switzerland and the USA. He…