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Yves Mirabaud Discusses Mirabaud Group’s Actions In 2020

Yves Mirabaud is one of the top celebrated professionals in the financial services sector. He currently holds a highly coveted position of senior managing partner and chairman of the globally renowned Swiss private bank, the Mirabaud Group.

Before launching his career, Yves studied at the Institute of International Studies, a world-class Genevan higher learning institution. Besides Yves’s current prestigious positions, he also has other professional mandates like being the Geneva Financial Centre President and a board of directors’ member at the Geneva Chamber of Commerce, Industry, and Services. Not so long ago, this Swiss bank was interviewed, and he used the opportunity to discuss Mirabaud Group’s actions in 2020.

Embracing the hedging strategy

Yves Mirabaud pointed out that he understands that some in the financial services sector have criticized the Mirabaud Group for embracing the hedging strategy during the pandemic. He mentioned that what the critics do not understand is that in its 200-year-old history, this Swiss private bank’s core mandate is to preserve the wealth of its clients.

In 2020, despite its profits and revenues falling, the firm managed to fulfill its core mandate excellently. Thus, its clients were happy with the outcome, and that’s why none of them is complaining; only outsiders are. Yves Mirabaud clarified that the private bank is old-fashioned and conservative; therefore, it does not chase profits as others do during shaky market seasons. Yves Mirabaud said that this conservative approach had enabled it to survive for more than two centuries.

Uncontrollable factors

The Swiss banker revealed that other uncontrollable factors also impacted its bottom line in 2020. Firstly, there is the US dollar’s weakness during 2020, which affected even the hedged investments. Additionally, a few of its clients that use the private bank exclusively for executions chose to have their investments remain active during the March market turbulence. Yves Mirabaud stated that since their investments lost their value during the shaky season, it affected Mirabaud Group’s annual performance. See related link for more information.

 

Find more information about Mirabaud on https://www.mirabaud.com/en/mirabaud-group/governance