A Distinguished Interview with Yves Mirabaud

Yves Mirabaud highlighted that Mirabaud, a renowned Genevan bank does not place revenue ahead of their customers. He added that the bank will start using another technology platform to upgrade operations. In 2020, Mirabaud registered disappointing financial results because the profit margin was negatively influenced.

Yves admitted the observation because the revenue could not be compared to the past years. However, he said that Mirabaud regards 2020 as a successful year in their history because it has some impressive outcomes considering the advanced disruptions triggered by the novel COVID-19.

Yves Mirabaud acknowledged that revenues suffered an eight percent decrease within one year, but also investors and customers became more engaged with the bank’s affairs. He said that the revenue fall was caused by a myriad of aspects, and the weakening U.S. dollar was one of them.

However, before the market and financial disruption in March, Mirabaud had secured the customer portfolios. Therefore, about 60% of the consumers actively staked in this market phase, both the recovery and the drop. This outcome favored the portfolio and customer portfolios even though the bank had little revenue.

Yves Mirabaud confirmed that many of his friends enjoyed the trading opportunity because they used the hedging approach. He added that Mirabaud Group could appear conservative and obsolete, but their culture is still relevantly aggressive. The customers did not complain as their portfolios were not volatile and their performances were favorable.

Mirabaud had outliers and had to do whatever consumers asked for since they had great portfolio leverages that demanded some margin to be called during the turmoil. Yves Mirabaud said that the bank had some diverging advancements because they won several wealth management customers intending to explore Switzerland. Many asset managers had to reposition and this triggered massive outflows by mid-2020. However, the other half saw the growth of the bank stagnate. See this page for additional information.

 

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