Mirabaud’s financial performance

There was a profit decline in 2020 resulting from the covid-19 pandemic, which made the bank’s financial results look disappointingly poor. Compared to the year 2019, Mirabaud Bank had a decrease in profit of 8%. Mirabaud said there is a positive outcome from the year as it was a part of the company’s best five years’ experience since they had an estimated return on equity of 15%.

Feedback from clients

Yves Mirabaud said he had received zero complaints from the clients even after an eight per cent drop in the company income. Yves Mirabaud said the economic conditions were favorable to the clients since there was a decline in both market and income. When asked about cost-cutting, he declined because it resulted from the pandemic that required cautious spending.

Hedging towards the peer’s Strategy

Yves Mirabaud said he had not received complaints from clients even during the turmoil since it was the time clients were forced to leave out of the market. He said he had worked out a plan to stay out of the market to avoid market volatility. As Swiss banks had a massive decline in the first semiannual profits, they still fought toward keeping their clients in the market.

Staff Recruitment

When it comes to the recruitment of corporate bankers and private bankers, Yves Mirabaud’s view of corporate banking was that the unit was still young to seek a new business that would require additional staff. He said they might hire 15-20 advisers during the year on private banking as they do not require a huge team.

Technology

Yves Mirabaud said there is a strong relationship between Mirabaud and ESG, and Mirabaud will continue guiding the ESG on matters concerning climate change. He added that banks are responsible for directing their investor’s resources toward new technology that will prevent climate change. Visit this page on LinkedIn, to learn more.

More about Mirabaud on https://www.allnews.ch/tags/yves-mirabaud