Press releases

MIRABAUD EXTENDS WEALTH MANAGEMENT PRESENCE IN LATIN AMERICA THROUGH TWO NEW URUGUAYAN SUBSIDIARIES

Montevideo, 20 February 2019. The Mirabaud Group, the banking and finance group founded in Geneva in 1819, has obtained the necessary authorisations from the Central Bank of Uruguay to open two Wealth Management subsidiaries. Both located in Montevideo, Mirabaud Advisory (Uruguay) SA will offer Mirabaud’s services to local clients, while Mirabaud International Advisory (Uruguay) SA will provide services to clients from other Latin American countries.

These openings strengthen Mirabaud’s wealth management presence and follow the creation of Mirabaud Asset Management (Brasil) Ltda in São Paulo earlier in the year which marked Mirabaud’s arrival on the South American continent. Both Uruguayan companies will be managed by Fabio Kreplak, with the support of Thiago Frazao, Limited Partner. These openings represent a further step in Mirabaud’s international development strategy.

Nicolas Mirabaud, Managing Partner and Head of Wealth Management for the Mirabaud Group, is “delighted with the opening of these two new subsidiaries in Mirabaud’s bicentenary year. For 200 years Mirabaud has always focused on serving the interests of its clients and protecting their assets by offering them investment solutions tailored to their needs. In recent years our Latin American client base has grown, so it was natural for us to establish a presence closer to them in order to serve them better. Opening these subsidiaries in South America once again demonstrates that Mirabaud maintains its entrepreneurial family spirit.”

Thiago Frazao, Head of Wealth Management for the LATAM market, emphasises how “Mirabaud’s diversified and personalised offering meets the needs of clients looking for confidence, stability and financial performance. Mirabaud is present on four continents and in ten countries and can call on a network of experts covering the various fields of wealth management. With their comprehensive knowledge of the South American market and Swiss wealth management expertise, Fabio Kreplak and his team are fully integrated into the Mirabaud culture and approach.”

Fabio Kreplak, who gained extensive experience in Latin America at UBS and then at Julius Baer, is “honoured to join Mirabaud and contribute to its development from Montevideo. Mirabaud has an excellent reputation among finance professionals, who recognise the firm’s tailor-made approach, international expertise and standards of excellence, which are essential assets in a booming Latin American market. Our clients will be able to benefit from the full range of investments and services offered by the Wealth Management team.”

The team based in Montevideo is expected to reach half a dozen employees during the course of this year.