Mirabaud, the Swiss private banking group, and the Spanish brokerage and research firm Venture Finanzas are to start operations in Spain under the Mirabaud brand with immediate effect, in a move which will see the Venture Finanzas brand consigned to history.

Under the integration of the two firms, Mirabaud, which has acquired a 25 per cent stake in Venture Finanzas, will distribute Venture Finanzas specialist services - such as Spanish market research - to large international investors. The Spanish firm’s clients, meanwhile, will benefit from Mirabaud’s asset management, private banking and intermediary services, the bank said in a statement. Overall, “the purpose of the integration is to be able to offer, develop and launch new products and services in the Spanish market,” it continued.

Mirabaud’s stated objective for Spain is to grow 15 per cent a year in terms of assets under management – a target which Mirabaud’s chief executive and partner has called ambitious but realistic in the long term.

“With the new brand we will be able to operate in a strategic market such as Spain and expand our activities. This will give us the opportunity to develop our offer of services in private banking, institutional management, intermediation services and distribution of products. Moreover, we will be able to offer through our international network the products that are developed by our specialists in Spain,” said Palma.

Mirabaud Spain has offices in Madrid, Barcelona and Valencia, offering fixed income, equity and derivative brokerage activities, along with analysis and research and fund management.