Yves Mirabaud puts it ahead of revenue regarding clients’ interests. According to Yves, the senior partner of Genevan Private Bank, they adopt a new technology platform to help them serve their clients better. Here’s what he had to say during an interview with Finews.com.
Why Revenue Drop in 2020?
According to Yves, 2018 and 2019 revenue were both extraordinary. But in 2020, that had unexpected circumstances, and being one of the best years in the financial bank’s 200-year history, they expected a fifteen percent equity return.
Why Did Revenue Drop by Eight Percent in an Active Year for Investors and Clients?
Yves Mirabaud noted that several factors influenced the fall. The United States dollars’ weakness impacted Genevan Private Bank in March 2020. Before the turbulent financial market, they started securing their clients’ portfolios for their trading income and commissions.
During the drop and recovery phase of the market, a significant percentage of their clients had invested, which was favorable for their portfolios’ performances, unlike Mirabaud’s revenue.
Is the Trading Boom’s Hedging Strategy Right?
Yves Mirabaud acknowledged that it was right. Even though they are conservative and old-fashioned, their custom is not to receive complaints from clients or be out in the market. Clients’ portfolios had less volatility, and they received good performances.
Did You Get Some Outliers?
Yves Mirabaud noted that they did. Some of their key clients use Mirabaud for execution, which shows they consider their client’s needs. The clients’ portfolios had significant leverage, and during the market devastation, they got some margin. As a result, the client’s position suffered, impacting revenue.
Future Plans to Hire in Corporate Finance?
Yves Mirabaud noted that the unit is still growing, and they would be hiring with new business. However, they want to concentrate more on the property private equity fund. They plan on transacting more in the United States and have already gathered $1 billion. Visit this page for additional information.
Find more information about Mirabaud on https://de.wikipedia.org/wiki/Mirabaud-Gruppe