Family-Owned Bank Overhauls European Leadership Amid Platform Consolidation

A Luxembourg-based private bank has installed new executive leadership to oversee its operations across six European locations, part of a broader effort to consolidate its wealth management platform after years of geographic expansion.

Émilie Serrurier-Hoël assumed the role of chief executive officer at Mirabaud & Cie (Europe) SA in June, taking charge of the bank’s operations in Luxembourg, Paris, Madrid, Barcelona, Valencia, and London. The appointment marks a turning point for the European subsidiary, which was established in 2011 and has operated under a single booking center model since 2014.

Serrurier-Hoël brings nearly 20 years of wealth management experience in Luxembourg, most recently serving on the executive committee at BIL, where she directed the CEO’s office and led teams exceeding 200 people. Her previous roles included head of wealth management, strategy, regulatory affairs, and marketing at the same institution.

Governance Reinforcement Follows Regulatory Investment

The leadership transition comes as the bank addresses what it acknowledges as the weight of regulatory compliance on smaller institutions. Carlo Thill joined the board of directors in March, bringing more than 40 years of experience in the Luxembourg financial sector, including senior positions at BGL BNP Paribas.

“For small institutions like Mirabaud, the investment required to stay fully aligned with evolving regulations is significant and can weigh on profitability,” Serrurier-Hoël noted in a recent interview.

The bank has directed resources toward upgrading its core banking system and artificial intelligence capabilities. These technological investments aim to improve client service efficiency while maintaining what the institution describes as highly personalized relationship management.

Mirabaud & Cie (Europe) SA now employs approximately 120 people across its six locations, with roughly 40 based in Luxembourg. The platform operates as a subsidiary of the Swiss banking group founded in Geneva in 1819, which remains under the control of its founding family after seven generations.

Positioning for Wealth Transfer Wave

Serrurier-Hoël’s mandate includes expanding business across Europe while ensuring the Luxembourg hub maintains long-term profitability following recent technological transformations. The bank positions itself to capture opportunities from what it characterizes as the largest intergenerational wealth transfer in history.

According to recent wealth research, Europe anticipates nearly €87 trillion changing hands by 2040, or approximately €677 billion annually. The private banking institution emphasizes its seven-generation family ownership as a differentiator when advising clients on succession planning.

“As a seventh-generation family-owned group, Mirabaud brings first-hand succession experience to clients navigating the transfer of their company or wealth,” Serrurier-Hoël said.

The Luxembourg operation serves as the parent company for the bank’s European branches. Each location maintains access to the same technological infrastructure and product offerings while emphasizing local market knowledge.

Private Assets Strategy Gains Prominence

The European platform has emphasized its range of private assets solutions, from evergreen private equity funds to bespoke arrangements. The bank notes that members of the founding family invest alongside clients in these offerings, a practice it describes as ensuring alignment of interests.

Client demand has shifted toward more personalized banking relationships, according to bank executives. Relationship managers maintain accessibility and work with dedicated specialist teams to serve individual clients—an approach the institution says its size makes possible.

“Clients increasingly expect a truly personalized relationship with their private bank,” Serrurier-Hoël said. “At Mirabaud, our relationship managers are highly accessible, supported by a dedicated team of specialists.”

The bank has also established partnerships with external firms to broaden its service capabilities. An agreement with Oquendo Corporate in Spain provides merger and acquisition advisory services to private clients and family offices.

Nicolas Mirabaud, who chairs the board of directors and serves as a managing partner of the group’s holding company, oversees the European operation. He expressed confidence in Serrurier-Hoël’s ability to drive the platform’s development.

“Her exemplary career, leadership and recognised expertise in wealth management will be strategic assets in supporting our development and serving our Clients,” Nicolas Mirabaud said.

The European subsidiary represents part of a broader international network that includes offices in Switzerland, the Middle East, and Latin America. The group maintains its headquarters in Geneva, where it has operated for more than two centuries.

Serrurier-Hoël assumes her role as competition intensifies across European wealth management markets. Banks face pressure to differentiate their offerings while managing compliance costs and technology investments that have grown substantially in recent years.

The bank describes its position as a “sweet spot”—small enough to provide attentive service while maintaining sufficient scale to matter in client portfolios. This positioning aims to appeal to entrepreneurs and families seeking an alternative to larger institutions or smaller boutiques.

“We see our size as a true sweet spot: small enough to care, big enough to matter,” Serrurier-Hoël said.