Mirabaud in recent years expanded its reach and is now reaping the benefits. Profit rose by a third in 2017.
Mirabaud is no longer the typical private bank for rich people. Step-by-step the Geneva-based institute expanded its business in recent years. And the owners are happy to see the returns: net income rose almost 30 percent to 40.5 million Swiss francs last year, the company said in a statement on Tuesday.
Assets under management added 11 percent and reached 33.3 billion francs. The asset management division has 9 billion under its wings, while wealth management is in control of 24.3 billion francs.
New Funds Launched
The bank, which was founded in 1819 made steady progress in asset management in 2017: Yves Mirabaud, the bank's managing partner, last year told finews.com that the company successfully had launched an actively managed fund for emerging markets bonds as well as its first ever private equity fund. Mirabaud also successfully acquired a string of institutional mandates.
In brokerage, the bank completed a reorganization that increased its potential in electronic processing of stock market orders, research and the management of initial public offerings.
In 2018, the group will continue its targeted investments in selected businesses and markets. The company currently employs 700 people.
