Geneva Private Bank Names New Investment Chief to Oversee Discretionary Portfolios

A Swiss private bank appointed a new head of investments in September, placing a veteran portfolio manager in charge of discretionary management and advisory activities across its wealth management division.

Ricardo Castillo assumed the role of head of investments at Mirabaud & Cie SA on July 1, taking leadership of the bank’s Investment Committee. Based in Geneva, he reports directly to Camille Vial, chief executive officer of the private bank.

Castillo brings expertise in discretionary portfolio management and international markets to the position. He will oversee investment strategy for the bank’s wealth management clients, supported by a financial research unit headed by Khaled Louhichi and the group’s economic and strategic analysis resources.

“We are delighted to welcome Ricardo Castillo as Head of Investments for our Wealth Management business,” Vial said. “His leadership, cutting-edge expertise in discretionary management and in-depth knowledge of international markets are valuable assets that we will put at the service of our Clients.”

Investment Platform Consolidates Under Single Leadership

The appointment centralizes investment decision-making for the bank’s discretionary and advisory services. Castillo chairs the Investment Committee, which sets portfolio strategy and asset allocation recommendations for client accounts managed by the institution.

The structure aims to provide consistency across client portfolios while maintaining the flexibility to customize approaches based on individual circumstances. Relationship managers work with the investment team to align portfolio decisions with specific client objectives and risk tolerances.

Mirabaud’s approach emphasizes what it describes as independence, conviction, and active management. The private banking group avoids index-tracking strategies in favor of selective positioning based on research and market analysis.

Castillo acknowledged the institution’s investment philosophy in comments following his appointment. He emphasized developing customized asset management solutions aligned with the bank’s core principles.

“I am honoured to join Mirabaud and the talented team in the Investment Division to develop customised asset management solutions based on the firm’s principles of independence, conviction and active management,” Castillo said.

Research Capabilities Support Portfolio Decisions

The investment division operates with dedicated research resources that inform portfolio construction and security selection. Louhichi’s financial research unit analyzes individual securities, sectors, and market conditions to support the Investment Committee’s recommendations.

Economic and strategic analysis teams provide macro-level insights on interest rates, currency movements, and geopolitical developments. This research infrastructure aims to give portfolio managers multiple perspectives when making allocation decisions.

The bank maintains offices across multiple geographies, allowing investment teams to gather regional market intelligence. Teams in Switzerland, Europe, the Middle East, and Latin America contribute local knowledge to the broader investment process.

Client portfolios reflect research conclusions but also incorporate individual preferences regarding sectors, geographies, and investment vehicles. Some clients request exclusions based on environmental, social, or governance considerations.

Wealth Management Platform Undergoes Leadership Refresh

Castillo’s appointment follows several executive changes across the bank’s operations this year. The institution installed new chief executives in its European and Middle Eastern subsidiaries during the same period.

These leadership transitions reflect what the bank characterizes as a focus on attracting executives who align with its operational approach. The institution emphasizes experience in discretionary management, client relationships, and understanding of evolving wealth management demands.

The Geneva-based private bank serves as the parent institution for the group’s wealth management activities. Founded in 1819, it remains controlled by its founding family after seven generations of ownership.

Four managing partners oversee the group’s operations and strategy. They maintain involvement in daily management alongside equity partners who hold senior positions across different business lines and geographies.

Investment Offerings Span Traditional and Alternative Assets

The wealth management division provides access to traditional securities including equities, fixed income, and currencies. Portfolio managers also incorporate alternative investments where appropriate for client objectives and risk profiles.

Private equity, hedge funds, and direct investment opportunities form part of the available investment universe. The bank notes that founding family members invest alongside clients in certain alternative asset opportunities.

This co-investment approach aims to align interests between the institution and its clients. The bank positions this structure as a differentiator when discussing investment recommendations with families and entrepreneurs.

Investment strategy considers current market conditions including interest rate levels, inflation expectations, and currency valuations. Teams adjust portfolio positioning based on evolving economic data and central bank policies.

The bank maintains focus on capital preservation alongside growth objectives. Portfolio construction balances income generation, capital appreciation potential, and downside protection based on individual client circumstances.

Global Footprint Informs Market Perspectives

The institution’s international presence provides investment teams with direct exposure to regional market dynamics. Offices in Europe, the Middle East, and Latin America offer on-the-ground perspectives on local economies and investment opportunities.

This geographic distribution allows the bank to identify investment themes across different regions and sectors. Teams share insights on regulatory changes, demographic trends, and technological developments affecting specific markets.

Castillo will coordinate these regional inputs as he develops investment recommendations for the bank’s discretionary portfolios. The multidisciplinary team structure aims to capture diverse market perspectives when formulating strategy.

The wealth management platform employs relationship managers, investment specialists, and research analysts who collaborate on client solutions. This team-based approach extends across the bank’s geographic footprint.

Portfolio reviews occur regularly to assess performance, rebalance allocations, and adjust strategy based on changing client circumstances or market conditions. Investment teams maintain communication with relationship managers to ensure portfolios remain aligned with client objectives.