Mirabaud has signed an agreement with Venture Finanzas Group, initially with an eye to acquiring a minority participation in the company’s share capital. Venture Finanzas is active in brokerage, analysis, management and distribution of funds
“This is an important step in our European expansion strategy”,
said Antonio Palma, Limited Partner and Member of the Executive Committee of Mirabaud.
“We have been diversifying geographically since the beginning of 2000, as well as expanding our knowledgeon different markets”.
The basis for the agreement
At the beginning of 2009, Mirabaud and Venture Finanzas group opened discussions aimed at determining a joint business development strategy. The complementary relationship of the two companies led to a prompt agreement:
“Spain is a major European market for our strategic activities”,
said Thierry Fauchier-Magnan, Managing Partner and Chairman of the Mirabaud Executive Committee.
“In the next five years, our primary development objectives will focus on domestic private clients, institutional clients, intermediary services (brokerage and corporate finance) and product distribution”.
Founded in 2001, Venture Finanzas Group quickly rose to prominence as one of the top brokers and
analysts in the world of Spanish finance.
“Our collaboration with Mirabaud is a sign of the enduring quality of the services we offer to our clients”,
explained M. Alejandro Perez-Calzada, Chairman and CEO of Venture Finanzas Group.
“With Mirabaud, we have found a quality partner who shares our values”.
Mirabaud: a growing force on the Spanish market
Having received the approval of the Spanish authorities (Comisión Nacional de Mercado Valores (CNMV)), Mirabaud and Venture Finanzas Group will actively work towards incorporating the Group’s offering into Mirabaud. Mirabaud may take a majority capital stake on a later stage.
“Our goal is to have Venture’s business activities running as part of the Mirabaud brand within the next year”,
explained Antonio Palma. Venture Finanzas Group With a current total of 93 employees, the Group has offices in Madrid, Barcelona and Valencia. Its main areas of activity include brokerage, equity and bond analysis and managing equity and bond funds on the Spanish market.
Venture Finanzas Group also provides local clients with personalised management services focused on specialised investments on the Spanish market. (c) (pdf)
Useful link: Bank Mirabaud & Cie