The pandemic rocked the financial world in previously unimaginable ways. During this unstable period, wealth managers were tasked with securing their clients’ portfolios at all costs. This was a challenge that Yves Mirabaud, a Senior Partner of Mirabaud, prioritized above all else. Within this article, we will take a look at how the group put their clients’ interests at the center of the equation and what the future holds for the renowned bank.
COVID-19 and Securing Clients’ Portfolios
Rather than attempting to capitalize on the recent trading boom in Q1 2020, Yves Mirabaud continued with the strong and steady hedging strategy. The move was less volatile than the avenue other groups may have taken, giving Mirabaud clients more peace of mind.
“Our culture is not to aggressively be out in the market. Our clients were quite happy. Their portfolios saw less volatility, clients didn’t lose much sleep as a result, and performance was favorable in nearly all cases,” says Yves Mirabaud.
The COVID-19 pandemic that started in 2020 led to widespread market disruption. Fortunately, Yves Mirabaud and his team were one step ahead of the game. The Mirabaud wealth management experts had previously secured their clients’ portfolios. Thismeant that these portfolios performed well throughout the insecurity of the financial sector.
“We started securing our clients’ portfolios in March before the financial market turbulence,” explains Yves Mirabaud. “As a result, our clients did wellduring this volatile phase of the market – by which I mean both the drop in markets as well as the recovery, because they were still invested. For our clients and the performance of their portfolios, this was favorable.
New Clients
The independent and responsible approach to wealth management helped Mirabaud build its client-base over the same period. While the pandemic naturally impacted the finance sector, the company took an anchored approach to investments, which helped many clients weather the storm. Moreover, Yves Mirabaud has played an active role in growing the group steadily and ensuring that it remains one of most renowned Swiss private banks.
“We won many new wealth management and asset management clients despite the situation around COVID-19..”
Despite the implications of the pandemic, Mirabaud clients enjoyed stability and sound investments over the last two years. The move allowed the experts to protect their clients’ portfolios and make intelligent investment decisions on their behalf. While many groups play fast and loose with finances, the traditional route is a safe one.
Looking to the Future
The future looks bright for the wealth management company. As Yves Mirabaud explains, the group will be focusing on bolstering its current standing around the globe. Despite this long-term goal, it’s not about speedy growth. Instead, Mirabaud will be taking a less aggressive pathway, choosing to nurture and support its clients over a matter of years and sometimes generation.
“We’ll continue with our strategy of reinforcing local offices in Switzerland, Europe, Latin America, and the Middle East; that should mean 15 to 20 new client advisers this year. We don’t necessarily want to compete in acquiring big teams,” says Yves Mirabaud. “We’ve observed a trend of advisers moving on after two or three years – we don’t want to do that.”
Wealth Management Expert and Senior Partner, Yves Mirabaud
Yves Mirabaud is a senior partner of Mirabaud, a Genevan wealth manager founded by his family in 1819. Mirabaud managed 34.9 billion Swiss francs ($37 billion) at the end of 2021. Yves Mirabaud, who studied international relations in Geneva, joined the bank in 1993 and became a managing partner three years later. The Swiss banker began his career at various firms in Geneva, Zurich, New York, and Boston.
The wealth expert is committed to positioning the Geneva financial center as President of the Geneva Financial Center Foundation and Member of the Board of Directors of the Geneva Chamber of Commerce.
