Mirabaud Partners With Spanish M&A Boutique to Target Family Offices

Alliance with Oquendo Corporate adds corporate advisory services for wealth clients navigating business transitions

Mirabaud has struck an exclusive partnership with Oquendo Corporate, an independent mergers and acquisitions advisory firm in Spain, to provide corporate transaction services to the bank’s private clients and family offices. The agreement enables the Geneva-based wealth manager to support entrepreneurs through business exits, generational transitions and partner restructurings.

“This agreement enables us to offer a more comprehensive service to our clients, especially in contexts of growth and strategic evolution,” said Pedro Dañobeitia, CEO of Mirabaud in Spain. “It is a milestone for the bank, as Oquendo Corporate’s expertise and independent approach ensure objective, rigorous and top-tier advisory that brings value to our clients.”

Oquendo Corporate has advised family businesses, entrepreneurs and international groups across multiple sectors in Spain. Recent mandates include advising the family on Lacer’s sale, guiding Portobello Capital and Controlauto through the acquisition of vehicle inspection company Prevencontrol in Catalonia, and supporting Duplex’s purchase of Valencia-based Ascensores Alapont.

The partnership addresses a specific need among wealth management clients who control operating businesses. When entrepreneurs sell companies, wealth managers face the challenge of redeploying proceeds into diversified portfolios while managing tax consequences and liquidity planning.

Manuel de Prado and Iñaki Salazar, founding partners of Oquendo Corporate, emphasized alignment on core principles. “Collaborating with Mirabaud represents a natural alliance based on shared values: independence, innovation, excellence and client orientation,” they said. “Our mission is to provide tailored solutions to protect and maximize the value of each business project.”

The firms are already collaborating on transactions including advisory work for Valfortec, an international renewable energy group. Such engagements test whether the partnership model delivers expected value before broader market deployment.

For boutique M&A advisors, bank partnerships provide client access and credibility. For wealth managers, corporate advisory capabilities fill gaps in service offerings without requiring internal team buildout and overhead costs.

Mirabaud operates branches in Madrid, Barcelona and Valencia as part of its European platform headquartered in Luxembourg. The Spanish presence dates to 2010 when the bank integrated research firm Venture Finanzas, subsequently opening offices across multiple cities.

Family office clients typically require more complex services than traditional private banking relationships. Beyond investment management, they seek tax planning, estate structuring, philanthropic guidance and corporate advisory—particularly when controlling shareholders contemplate liquidity events.

The partnership reflects industry trends toward specialist collaboration rather than full-service integration. Banks increasingly recognize that maintaining in-house expertise across every client need becomes cost-prohibitive, especially for mid-sized institutions competing against larger rivals.

“Alliances such as that of Mirabaud and Oquendo Corporate reflect a clear industry trend: partnering with specialized firms to preserve independence while ensuring access to the best experts in each field,” the firms said in a joint statement.

Oquendo Corporate’s deal experience spans industrial companies, service businesses and consumer sectors. The firm’s relationships and market knowledge position it to identify potential buyers or sellers before mandates reach public auction processes—often resulting in better pricing and terms.

M&A advisory relationships generate revenue through transaction success fees rather than recurring management fees typical of wealth management. However, completed deals often result in expanded assets under management when sale proceeds flow to the wealth manager for reinvestment.

Entrepreneurs face distinct challenges when transitioning from active business ownership to passive wealth management. Many struggle with reduced involvement in operations, loss of professional identity and uncertainty about capital allocation beyond familiar industries.

Mirabaud has emphasized its entrepreneurial client focus across markets. The bank’s seventh-generation family ownership provides firsthand experience with succession planning and wealth transfer—experience that proves relevant when advising business-owning families through similar transitions.

The Spanish market presents growth opportunities given the concentration of family-owned businesses approaching generational transitions. According to various estimates, European family businesses will undergo ownership changes over coming decades as founders reach retirement age without clear succession plans.

Corporate advisory partnerships complement Mirabaud’s existing service architecture. The bank offers private equity investments, structured products and alternative assets alongside traditional portfolio management. Adding M&A advisory rounds out capabilities for clients operating at the intersection of wealth management and corporate finance.

Dañobeitia emphasized that Oquendo Corporate’s independent status ensures objective advice aligned with client interests rather than product distribution goals. “It is fully aligned with our commitment,” he said.

Both firms operate at modest scale compared to global investment banks, enabling faster decision-making and senior-level client attention. Oquendo Corporate’s founding partners remain actively involved in transactions rather than delegating to junior bankers—an approach that resonates with family business owners accustomed to working directly with principals.

The partnership structure remains exclusive within Spain, preventing Oquendo Corporate from offering similar services through competing wealth managers in the market. Such exclusivity provisions protect Mirabaud’s investment in relationship development while ensuring Oquendo maintains focus on partnership success.

Whether the model expands to other markets remains unclear. Mirabaud could replicate the approach by partnering with M&A boutiques in France, the United Kingdom or Switzerland—markets where the bank maintains wealth management operations seeking similar corporate advisory capabilities.