Southern Europe investors push Mirabaud assets up 4%
Mirabaud & Cie, the Geneva-based private bank, has increased its AUM by about 4% thanks to Switzerland’s safe haven status among investors from Southern Europe.
Yves Mirabaud, senior partner at the firm, told Bloomberg: “We have seen some new European clients coming to Switzerland to book their assets. They worry about the situation rightly or wrongly and want to have their assets booked in what they believe is a safer place.”
US clients have left, under pressure from the new US Fatca regulations, but new clients have arrived from Spain, Italy and Greece, pushing assets under management to CHF25bn ($27bn) from CHF24bn at the end of 2011.