The next generation of Mirabaud family is poised to move upstairs, bringing new blood to the nearly 200-year-old illustrious private bank.
The seventh generation of the Mirabaud banking dynasty is advancing: 43-year-old Nicolas Mirabaud will «shortly» become a partner of the private bank his family founded in 1819, Swiss daily «Neue Zuercher Zeitung» (in German, behind paywall) reported on Monday.
«Shortly» is an elastic term for the Genevan private bank which celebrates its bicentennial next year. Nicolas Mirabaud has been a limited partner since 2015 – the training grounds, so to speak, for offspring likely destined to enter the family partnership. Previously, Mirabaud had co-led the private bank's wealth management arm.
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The move will expand Mirabaud's managing partner ranks to five: Yves Mirabaud has a «primus inter pares» role as the senior-most partner, while Antonio Palma acts as CEO of the bank. Asset management chief Lionel Aeschlimann and portfolio management head Camille Vial are also full partners.
The younger Mirabaud's promotion is not entirely unexpected: last year, Swiss daily «l’Agéfi» (in French, behind paywall) reported that Nicolas Mirabaud's promotion «probably wouldn't happen» in 2017. Instead, he will be promoted in time for the bank's highly symbolic 200-year festivities, «NZZ» reported.
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Another banker scion, Michael Palma (pictured above), was promoted to limited partner – the same level as Nicolas Mirabaud – last year. Palma, who is just 34 years old, has enjoyed a meteoric rise in nearly ten years at the bank.
Together with Vial, the daughter of Thierry Fauchier-Magnan, who retired in 2011, Mirabaud and Palma ensure the bank's fresh blood. The bank didn't indicate how quickly it would admit the two newest representatives of the younger generation into the top echelon of the prestigious partnership.
