History
The house dates its history to 1819: in that year a bank was founded in Geneva from which Mirabaud grew. The founder's name and age do not appear in the bank's own materials — its history page, its annual reports or its corporate brochure — so the detail about a 25-year-old David-Marc Paccard is not confirmed against primary sources and requires verification. In 1857 its partners took part in creating the Geneva Stock Exchange, and the Mirabaud name became attached to the house as the family joined its managing ranks. It is one of the oldest private banks in Switzerland and a member of Les Hénokiens, the association of family businesses more than two hundred years old.
The bank took its present form in 2014, when Mirabaud SCA became the group's holding company — a Swiss limited partnership that the managing partners own through Mirabaud Partners & Cie. The partners assume full and unlimited responsibility at the holding level; the banking business is carried on through Mirabaud & Cie SA. By 2026 their circle had narrowed to three: Lionel Aeschlimann (Senior Managing Partner since 2025), Camille Vial (Chair of the Executive Committee of Mirabaud & Cie SA) and Nicolas Mirabaud (Head of Wealth Management). Yves Mirabaud, who previously led the partnership, has left the managing-partner role, while Thiago Frazao, who built the Latin American business, has moved into the equity partners.
Concept
Mirabaud & Cie SA is a Geneva private bank operating since 1819 and one of the few partnership banks still remaining in Switzerland. By scale it trails Pictet and Lombard Odier, and this sets its niche: boutique private banking with a lower entry threshold than the largest Geneva houses. Until 2024 the Mirabaud Securities brokerage business played a notable role, but after its closure the group focused on private wealth management, asset management and corporate finance.
By scale Mirabaud is a mid-sized Geneva house: at the end of 2025 the group had CHF 31.7 billion under management against CHF 32.3 billion a year earlier (the decline was attributed to a planned outflow of non-core assets), while consolidated net profit for 2025 rose 10% to CHF 22.6 million. This is many times smaller than neighbouring Pictet or Lombard Odier — and it is precisely this compactness that defines the bank's boutique model.
Today the business rests on two pillars — Wealth Management and Asset Management; alongside them sits corporate-finance advisory (M&A, debt advisory, alternative instruments). The group's revenue for 2025 was CHF 254.7 million, and its bulk — CHF 183.2 million — comes from management and advisory fees; smaller shares come from interest income (CHF 28.9 million) and trading income. This structure is typical of fee-based private banking, where earnings come first and foremost from servicing capital. After the closure of Mirabaud Securities, exchange execution for clients is provided by external custodians and brokers.
The 2024–2025 Strategic Pivot
2024–2025 became a period of recalibration for Mirabaud. In September 2024 the bank closed the Mirabaud Securities brokerage business: institutional trading and research coverage generated revenue but did not cover their costs and remained loss-making. The bank did not separately disclose the number of roles cut: on the annual reports, the group's average headcount fell from 749 in 2024 to 696 in 2025. Mirabaud Securities Ltd itself was liquidated in July 2025 — the dissolution entry in the UK Companies House register is dated 1 July 2025. Corporate finance was retained, narrowed to M&A, debt advisory and work with alternative instruments.
The group channelled the freed-up resources into technology infrastructure and priority markets — Switzerland, Europe, the Middle East and Latin America. For 2025 this produced a 10% rise in net profit while operating expenses fell from CHF 248 to 218 million. Mirabaud's traditionally strong Ibero-Latin American network became one of the key growth directions in the new configuration.
Expansion and Deal Appetite
The group used the narrowing of its perimeter as a springboard for growth. Senior Managing Partner Lionel Aeschlimann, who took over the partnership in 2025, has publicly allowed that Mirabaud has begun to look more closely at selective acquisitions: previously the house grew almost exclusively organically, and now the leadership is signalling readiness for deals. In parallel the bank is strengthening its presence in priority markets — in September 2025 a new CEO for the Middle East was appointed, in March 2026 the Paris headquarters was refurbished, and in May 2026 an office opened in Lausanne.
External recognition reinforces the course: in November 2025 the Wealth Management in Switzerland and Liechtenstein 2025 study (Fin21 together with Finews) named Mirabaud the "most prosperous" institution in Switzerland in the large-banks category — that is, among banks with more than CHF 20 billion under management. At the same time the bank remains compact — its CHF 32.4 billion under management as at 30 June 2026 is not comparable with the hundreds of billions at UBS and the largest Geneva houses, and the strategy is built around retaining a quality client base and selective growth in the Middle East and Latin America.
Partnership Format and Boutique Model
Structure
Mirabaud is in the same cultural category as Pictet and Lombard Odier: private ownership, partner liability, a long horizon and a cautious risk appetite. The smaller scale makes the relationship model more personal.
Speed and Access
A relationship manager handles fewer clients. Decisions are taken closer to the partners and faster. Onboarding a clean case takes 10–14 weeks: qualification, KYC, compliance review, personal meeting, activation and first deposit.
Limitations
The alternatives platform is less extensive than Pictet's. Asian infrastructure is weaker than at HSBC, DBS or UBS Singapore. For large institutional leverage and complex structured products, universal banks are better.
Regulation and Geography
- Main bank — FINMA, Swiss Banking Act regime.
- Asset management — CISA.
- Deposit protection — esisuisse up to CHF 100,000 per depositor.
- Regional regulators — CSSF Luxembourg for Mirabaud & Cie (Europe) SA, a bank incorporated under Luxembourg law whose branches serve Madrid, Barcelona, Valencia, London and Paris; the FCA, and to a limited extent the PRA, for that bank's London branch and for Mirabaud Asset Management Limited; DFSA Dubai, CNMV Spain, AMF France; CIRO and the Canadian Investor Protection Fund in Canada.
- Booking network — Geneva, Basel, Zurich, Lausanne, London, Luxembourg, Paris, Madrid, Barcelona, Valencia, Milan, Montreal, Dubai, São Paulo, Montevideo.
The strong Ibero-Latin American network is a distinct differentiator for Mirabaud among Geneva banks.
Thresholds and Product Role
| Segment | Minimum | What's Available |
|---|---|---|
| Wealth Management | from CHF 2M | discretionary / advisory mandates, custody, multi-currency |
| Non-resident of Russian origin (de facto) | CHF 3–5M | same mandate, enhanced due diligence |
| Corporate Finance | by mandate | M&A, debt advisory, alternative instruments |
| Asset Management | separate mandate | funds, thematic strategies, ESG |
Who Mirabaud Suits
Key Segments
- High-net-worth (HNW) clients with CHF 2–10M in assets who need a Geneva private bank without a Pictet-level threshold.
- Clients for whom a personal connection and a boutique format matter.
- Spanish- and Portuguese-speaking ultra-high-net-worth (UHNW) clients with a presence in Iberia or Latin America.
- Clients who value the partners' personal liability and a conservative, long-term approach to capital.
- Families for whom continuity with a 200+ year history matters, but who do not need universal-bank scale.
Requirements for a client of Russian origin
- Residency outside Russia: Switzerland, the EU, the UK, the UAE through Mirabaud Middle East, or another acceptable jurisdiction.
- No sanctions exposure for the client and the UBO under OFAC, EU, UK, Swiss FDF.
- Tax returns for 2–3 years, statements and documents on the wealth-formation event.
- Status outside the politically exposed person (PEP) and state-owned enterprise (SOE) categories.
- A personal meeting in Geneva, London, Madrid or another booking centre.
Cases from Practice
High-net-worth (HNW) client from the UAE
A client with CHF 4M in assets, a Dubai resident, with an operating business — IT consulting. Opened Wealth Management in Geneva plus a separate sub-account for a seed deposit for a daughter in London.
Iberian ultra-high-net-worth (UHNW) client
A family with Portuguese residency and CHF 18M in assets. Serviced through Mirabaud Madrid + Geneva booking, an advisory mandate focused on European assets and real estate in Portugal.
Rejection on an aggressive profile
A client with CHF 7M expected high leverage and an active structured-products desk. Compliance judged that the profile did not fit the partnership model. Redirected to Julius Baer and UBS.
Where Mirabaud Is Appropriate and Where It Doesn't Fit
Appropriate
- High-net-worth (HNW) clients with CHF 2–10M and a need for a Geneva partnership.
- A personal relationship model and access to the partners.
- Iberian and Latin American clients with transatlantic capital.
- Market access and custody of assets — through a network of external custodians and counterparties.
- Non-residents of Russian origin with a clean profile and a confirmed Source of Wealth.
Doesn't Fit
- Ultra-high-net-worth (UHNW) above CHF 100M+ needing a broad alternative-investment platform.
- Clients whose primary need is an Asian booking centre.
- US residents.
- Portfolios made up only of crypto assets, or dominated by them.
- Aggressive leverage, high-frequency trading or a complex structured-products agenda.
- Clients with residency in Russia.
Alternatives
| Bank | Profile | Minimum |
|---|---|---|
| Pictet | largest Swiss partnership, broader range of alternative investments | CHF 5M |
| Lombard Odier | partnership, strong in ESG, family governance | CHF 5M |
| Julius Baer | listed pure-play wealth manager | CHF 2M |
| UBS Global Wealth Management | universal bank, access to investment banking | CHF 2M |
| CIM Banque | entry-level Swiss for non-residents | CHF 50k |
Frequently asked questions
Mirabaud versus Pictet and Lombard Odier
Pictet and Lombard Odier are larger and deeper in platform breadth. Mirabaud is smaller, more personal and more accessible at entry. Mirabaud's niche is private banking for the lower segment of high-net-worth (HNW) capital and a boutique format, Ibero-Latin American relationships and securities-transaction execution. If you need maximum institutional scale, Pictet or UBS is stronger. If you need a Geneva partnership at CHF 2–5M — Mirabaud is more practical.
How does Mirabaud approach crypto
Mirabaud, like most conservative Swiss partnership banks, does not position itself as a crypto bank. Fiat proceeds from the sale of crypto assets are considered only with a documented Source of Wealth through a licensed exchange, with KYC records, bank statements and audit. For clients with capital of crypto origin, specialised Swiss providers are better.
Where to open a relationship with the bank
Geneva — for classic Swiss wealth management. London — for UK residents and work with UK advisers. Madrid and Barcelona — for the Iberian and Latin American context. Dubai — for UAE residents and the Middle East. For capital with an Asian focus, it is better to compare Mirabaud with Pictet, HSBC, UBS or Singapore providers.
How long does onboarding take
About 10–14 weeks for a clean case: qualification, KYC, compliance review, personal meeting, activation and initial deposit. Onboarding does not close without a personal visit.
What happened to Mirabaud Securities
The bank closed the Mirabaud Securities brokerage arm — institutional equity and bond trading and research coverage — in September 2024 owing to weak profitability; the bank did not separately disclose the number of roles cut, and Mirabaud Securities Ltd itself was liquidated in July 2025. For a private client this means that exchange execution now runs through external brokers and custodians, while the bank itself is focused on wealth management and asset management.
How does Mirabaud work with family structures
Through the wealth-planning team — trust, foundation, corporate UBO, sub-accounts by generation. For families up to CHF 30M Mirabaud works directly; for larger tasks it integrates with external trustees in Jersey and Liechtenstein.
What is the standard team per client
One relationship manager, with support from a portfolio manager and a compliance officer. For large families a wealth planner and a tax coordinator are added. The team is stable over a 10+ year horizon — a distinct strength of the partnership format.