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Yves Mirabaud’s Interview

Yves Mirabaud said that Mirabaud is a unique organization that prioritizes its customers, unlike others that focus more on revenue. According to Mirabaud’s 2020 financial report, the profit margin dropped in 2020, and this appeared quite disappointing.

Yves Mirabaud said that the observation was quite accurate especially when the figures were compared to the previous two years that had marked extraordinary revenue. Nevertheless, Yves Mirabaud said that 2020 was considered among the best years even with the damaging coronavirus pandemic.

Regardless of the heavy revenue drop, Mirabaud’s investors and consumers were more active. The decline was influenced by different aspects. For instance, Mirabaud was affected by the weakening American currency. Earlier on before the market turbulence, Mirabaud secured the managed customer portfolios as well as their trading income and commission.

Therefore, Mirabaud’s consumers were indirectly invested over this active period. This means they experienced the flops and recoveries since they were invested. This favored Mirabaud’s portfolio performances and customers.

Yves Mirabaud confirmed that some of his friends benefited from the hedging approach and the trading reverberation. Mirabaud could have been old-fashioned, but their culture was aggressive enough to be relevant. The customers did not complain more even though their portfolios became more volatile because the performance was still favorable.

Yves said that the company still had some outliers, so they execute whatever customers demand. The customers have portfolio leverage and even during the market disorientation, some margin was called. This affected their positions and revenue. On the 810M francs, Yves said that they had different developments whereby they won wealth management customers who were seeking leverage in Switzerland.

On the other hand, asset management investors repositioned in the first half of 2020, and Mirabaud saw strong outflows. The other half was completely opposite because the company registered better asset management performance as private banking stagnated. Also, coronavirus-related regulations increased.

 

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