Profits and AuM rise in first half for Mirabaud

Swiss private banking group Mirabaud has announced post-tax profits of 29.9 million Swiss francs (€26.2 million) for the first six months of this year, up 34% on the first half of last year.

Group net assets under management at the Geneva-based firm rose 7% year-on-year to 33.4 billion francs of which the group’s asset management arm accounted for 8.8 billion francs, marginally down from 9.0 billion francs at the end of December 2017.

First half revenue amounted to 174.0 million francs, up from 151.6 million francs in the same period of 2017, including fee income of 134.8 million francs, up from 116.9 million francs in the first half of last year.

Senior managing partner Yves Mirabaud said that the results reflected a positive contribution from the three business lines of wealth management, asset management and brokerage.

“These good results are in line with those achieved recently,” he said. “They reflect the performance of our businesses in Switzerland and the rest of Europe, as well as in the United Arab Emirates and Canada.”

©2018 funds europe

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