Mirabaud Bank, the Genevan private bank will decide on a new technology strategy in 2019, according to senior partner Yves Mirbaud. The decision comes after years of change at the firm following its acquisition of French rival Groupe Caisse d’Epargne in 2008. Mr. Yves Mirabaud said he expected “a big change” in the bank’s technological architecture and core services. He added: “We need to think about our customers. We must keep them as an important client base.”
In 2020 we had an increase in revenues of 40% compared to 2019 and a decrease in net losses of 60%. Revenue increased because we got five new contracts, while net loss decreased due to reduced costs. These developments come even though there are fewer customers since many companies closed down during the pandemic, and fewer customers mean less revenue. Yves Mirabaud saw the profit margin remains stable at 10%, indicating that margins remain profitable.
The economy slowed down after the stock market crash in October 2008. Our interest business felt weaker, mainly because of the financial crisis. We started securing our actively managed clients’ portfolios in March 2009 in anticipation of the downturn.
The fall in the stock market had a significantly negative impact on companies like ours that were not actively trading. However, Mr. Yves Mirabaud saw it as a positive development for our clients. As a result, roughly 60% of them were passively invested during this active phase. This means that at least half of the time, they did not trade by investing themselves directly or through external funds. They just wanted to see what happened to their investments.
Was that the correct strategy for everyone else? What if we had done nothing and made an even worse investment return? If we had taken a different approach, would we have lost our money and clients’ confidence in us? We were cautious about what we did and took the time to educate ourselves and ask questions before executing trades. Our hedge fund’s culture and ethics reflect our founder’s philosophy. We want to help others achieve financial independence. See this page for related information.
More about Mirabaud on https://www.mirabaud.com/en/mirabaud-group/governance