"Organic" Is Growth Watchword For Mirabaud's UK Wealth Business

Tom Burroughes

29 June 2026

business has operated since 1990 by establishing a London office providing institutional and private asset management – one of a cluster of Swiss banks operating in the UK market. It is part of that British-Swiss financial services link that came under a spotlight earlier this year with the arrival of the Berne Financial Services Agreement, a mutual recognition of standards pact between the UK and Swiss governments.

As far as Stuart Bates (main picture), UK CEO of Mirabaud Wealth Management, is concerned, developments such as the Berne pact don’t directly affect it, given its established base in the UK for over almost four decades. However, in general terms, anything that facilities trade and financial interaction is welcome.

In expansion terms, the firm takes a cautious but deliberate approach.

“We expect to grow even more in the next four years. This is going to be all organic growth and about hiring the right people,” Bates told WealthBriefing during an interview at his office in London’s Victoria area. “The battle for talent is a tough one; we are hiring selectively…our culture is very important to us…two to three RMs per year line to Nicolas,” referring to Nicolas Mirabaud, managing partner of Mirabaud Group and a scion of the banking dynasty.

Recent results paint a steady picture. In total, Mirabaud has SFr31.7 billion ($39.12 billion) of assets under management, as at the end of 2025, a dip from a year ago (SFr32.3 billion) – a result of strategic, one-off exits from non-core assets and a refocus on wealth management target markets.

WB asked Bates if the firm has been adversely hit by the UK ending the resident non-domicile system, given all the headlines about HNW and UHNW individuals leaving the UK for foreign shores.

“We have some international clients, but they are not the bulk of our clients. A lot of our non-dom clients have decided to remain in the UK. As part of Mirabaud’s operating model, UK clients are booked through our Luxembourg platform. As a result, for those who have relocated, there has been little disruption to the way we service them,” he said.

The human factor
Turning to the all-embracing AI theme, Bates said Mirabaud is “starting to get to grips” with this technology. “We have begun a huge investment into IT transformation, and we believe our investment in it will pay off. It will reduce the burden of administrative tasks and allow our advisors to do what they do best – understanding clients’ needs and requirements.”

“We believe it is going to help us leapfrog into the future,” he continued.

“We have a major transformation and digitisation project at the bank,” Bates continued. “We are replacing our core banking system as well as all the ancillary systems that surround it to help futureproof the bank. AI is a central theme to this transformation.

“What is not going to change is the need for human interaction and human trust,” Bates said.

Major themes that take up Mirabaud’s attention are the well-trodden areas of intergenerational wealth transfer and helping clients stay composed during geopolitical and economic turbulence. Bates also referred to the importance the bank attaches to behavioural finance – an area drawing on understanding human psychology in decision-making as applied to markets and finance. “It is something we put a lot of time into and into explaining to our clients,” he said, adding the important adage that a lot of wise investing is about time in the market, not timing the market.