Yves Mirabaud is one of the most accomplished European business leaders and financial sector professionals. Yves has been working in the financial sector for nearly four decades. He launched his career after completing his international relations and finance degree at the prestigious Institute of International Studies in Geneva.
Yves’ professional excellence has led him to work for various financial services firms in Zurich, Boston, and New York before joining the Mirabaud Group in 1993. Three years later, Yves was promoted to Managing Partner. During a recent interview, this Swiss banker discussed Mirabaud Group’s performance in 2020.
Is the drop in profitability cause for concern?
According to Yves Mirabaud, the Mirabaud Group’s drop in profitability is no cause for concern. He pointed out that the company was actually entering its best period ever over a coming couple of years. He clarified that although looking at the firm’s profitability in 2018 and 2019 and comparing it to 2020 might raise an eyebrow – its performance in 2020 has to be looked at in the context of the Covid-19 pandemic. The Swiss banker stated that given the situation caused by the pandemic, it might be worth saying that 2020 was one of the top five best years that the Mirabaud Group has had in two-century history. He mentioned that the firm was still expecting an estimated 15% return on equity despite the drop in profitability.
Putting the client’s interest first
This accomplished financial sector professional said that Mirabaud Group’s culture is based on putting its clients’ interests first over having a perfect performance record. Therefore, before the financial markets were sent into turmoil in March due to the pandemic, the firm moved to protect their wealth. Yves Mirabaud pointed out that this involved getting them passively invested in the markets. He explained that although the move protected the clients’ investments during the downturn, it also meant that Mirabaud Group couldn’t exploit the full potential of the market upturn that followed, resulting in moderate profits. Refer to this article for related information.
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