Mirabaud Bank does not focus more on revenue than customers’ interests. The private bank based in Geneva is about to resolve on a lucrative technology platform. When addressing the dropping profits based on the 2020’s financial results, Yves Mirabaud said that the illustration could be accurate based on the previous years’ comparisons that registered unbelievable revenue.
However, Mirabaud believes that even though 2020 was contravened by the novel coronavirus pandemic, it was among the best periods in the bank’s history with some impressive results. Mirabaud registered a revenue fall of about eight percent within a year and a time when investors and customers were active.
Yves said that this fall was triggered by some factors, and the venture suffered from the weakening American dollar. When addressing the bank’s trading income and commission, Yves Mirabaud secured their managed customer portfolios before the raging turbulence. Therefore, the bank’s customers were investing over this active phase; meaning both recovery and drop.
Yves Mirabaud believes that the hedging methodology used by some of his friends triggered the trading boom. Yves said that the bank may be conservative and old-fashioned, but the culture is still not market-aggressive. However, its customers did not complain since even though their portfolios were less volatile, they did not lose sleep.
Mirabaud said that they had some outliers, and so they enact whatever their customers ask. The consumers had portfolio leverages, and even over the turmoil, the bank called for margin. The customers’ positions struggled and suffered as a result. Yves said that they had some diverging developments, so they got more wealth management customers seeking Swiss havens.
Asset management had many investors seeking repositions; therefore, enabling the bank to realize robust outflows up to mid-2020. From July, things changed because the coronavirus situation came with limited explorations and interactions. See related link for more information.
Additional information about Mirabaud on https://www.moneyhouse.ch/fr/list/person/mirabaud-yves