Mirabaud, the asset management division of private bank Mirabaud & Cie, has announced that it is strengthening its asset management business in Switzerland with the creation of a new entity.

Mirabaud, the asset management division of private bank Mirabaud & Cie, has announced that it is strengthening its asset management business in Switzerland with the creation of a new entity - Mirabaud Asset Management (MAM), which will be launched in January of 2014.

Together with independent directors, the new division will provide asset management and collective investment service, in addition to serving institutional clients. MAM will be supervised by the Mirabaud Group's six current partners.

The new entity will house all of Mirabaud's asset management and fund distribution activities in Switzerland. It will be run by Lionel Aeschlimann, who will head the team of 45 other individuals, the firm said in a statement.

Furthermore, the new division is expected to be awarded an AIFM licence by the CSSF, Luxembourg's financial regulator. This licence would give MAM the authorisation to offer its alternative investment products throughout the European Union.

Mirabaud has asset management offices in Paris, London, Montreal, Barcelona, Zurich and Geneva, focusing on investment management and advisory services.