Mirabaud makes key hire from Nomura in Spain
Swiss private bank Mirabaud has reinforced its commitment to the Spanish market by appointing Javier Colás as capital markets director, Spain.
Colás will lead Mirabaud’s business in corporate banking, analysis and institutional intermediation in fixed and variable income.
Colás joins from Nomura International, where he was executive director of the institutional variable income division.
He has over 15 years’ experience in Spain’s institutional brokerage sector, having previously worked at Santander and Lehman Brothers.
Mirabaud entered the Spanish market in 2009 through exclusive cooperation agreements and has operated under its own name in the country since 2010. It has offices in Madrid and Barcelona.
Spain is increasingly important for the private bank, partly as a springboard into Latin America.
In January 2012 it acquired 100% of the capital of its Spanish subsidiary, Mirabaud Finanzas Sociedad de Valores. In 2010 Mirabaud Group took a 25% interest in the capital of the Spanish broker-dealer Venture Finanzas, the name of which was changed to Mirabaud Finanzas in mid-2010.
“Spain is a very attractive market, as there are still very sizeable fortunes to be invested, in spite of the crisis. It also represents a magnificent stepping-stone to Latin America, where there are huge opportunities for our sector,” explained Antonio Palma, chief executive of Mirabaud, following the acquisition.
Palma is targeting 10% growth per year in assets under management from the Spanish market, in line with his expectations for the rest of the group.
Mirabaud offers advice and financial services in its three business lines: private banking (portfolio management, investment advice and services to independent asset managers); asset management (institutional management, fund management and distribution); and intermediation (brokerage, corporate finance and debt management).
It has tripled its assets under management in 10 years to roughly €20bn. Beyond Spain, Mirabaud operates in Switzerland (Geneva, Basel, Zurich), Europe (London, Paris, Luxembourg) and around the world (Montreal, Hong Kong, Dubai, Perth).