A managing partner at Mirabaud is exiting the Genevan wealth manager unexpectedly. The exit comes just one year after his appointment to the partnership – and after a meteoric career.
Michael Palma is leaving Mirabaud, where he became a managing partner last January, the Swiss private bank said in an emailed statement on Thursday. Together with Nicolas Mirabaud, Palma joined the managing ranks of the bank last year in a rejuvenation push.
«Michael Palma has decided to leave the Partnership and the Mirabaud Group for personal reasons as of February 29th of this year,» the bank said. The career of the 37-year-old, who also presides a local Genevan football club, had surged in his ten years with Mirabaud, capped with being named one of five partners who run the bank as of last year.
In Father's Footsteps
Palma's father, Antonio Palma, left the partnership, at the end of 2019. The younger Palma's exit leaves Mirabaud with just four partners, including Camille Vial, who took a larger role last year, veteranLionel Aeschlimann, and senior managing partner Yves Mirabaud, and Nicolas Mirabaud.
Mirabaud's roughly 700 staff manage 34 billion Swiss francs in private banking and asset management funds. The bank also has three limited partners: Middle East and Africa head Alain Baron; Etienne d’Arenberg, head of the U.K., and Thiago Frazao, head of Latin America.
