Swiss company Mirabaud has strengthened its wealth management operations in Spain with the opening of a new office in Valencia.

The expansion is part of a strategy to expand Mirabaud’s wealth management services in Spain, which saw the company take over Venture Finanzas Group including its offices in Madrid and Barcelona, back in 2009.

With the expansion, Mirabaud has recruited the CEO of wealth and asset management at the Valencia office, Francisco Gómez-Trenor García del Moral, who will be responsible for selecting and leading a team of recognised professionals in the financial sector.

Earlier Spanish initiatives

Mirabaud CEO, Antonio Palma said the expansion of the company’s wealth management services was a priority objective from when it began operating from Spain in 2010, which is reinforced by the launch of the Valencia office.

The expansion in Valencia follows on from Mirabaud’s launch of a new business unit focussing on providing services to professionals in sport and the arts in March 2012.

Mirabaud estimates that the market in Spain for sporting and artistic professionals is worth nearly €3.9bn ($5.18bn) a year, with professional athletes representing 54% of the figure.