Yves Mirabaud: 2020 Business Brief

Yves Mirabaud is a senior executive at the Genevan private bank. During 2020, Yves traded cautiously as the world of business was experiencing various challenges due to the Covid-19 pandemic. The client’s interests come first for Mirabaud Group. The bank’s 2020 financial results were disappointing as profits decreased. This was different from 2018 and 2019, as the previous two years were marked by extraordinary revenue.

Two thousand twenty financial results were among the best in five years, given the challenges brought by Covid-19.

Nevertheless, the bank’s income fell by eight percent. The results are despite the investors and clients being active. The fall of the dollar was among the reasons. The trading income and commission were positive as they started securing their client’s portfolios by March. That was before the fall in the financial market.

There were no complaints from the clients. Around 60 percent of their customers were inertly invested during the market’s extremely active phase. The hedging strategy worked well, according to Yves Mirabaud. He says that they aim to remain in the market despite looking old-fashioned and conservative.

Customers, portfolios had less volatility; therefore, clients didn’t lose that much, and performance was fair in almost every case.

The bank experienced some outliers of two or three important customers who are for execution. The bank enacts what a client request. Their position suffered due to that, and it hit the revenue. Mirabaud was cautious in their spending. Mirabaud won some private bankers, which was advantageous as it boosted the seven markets they were active in.

The bank’s key focus is to reinforce local branches in Europe, Switzerland, Middles East, and Latin America. Yves Mirabaud says that their target is around 20 new customer advisors yearly. Acquiring big teams is not one of their plans. Yves Mirabaud has made achievements that need to be appreciated.

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