The Oakville-based independent firm closes deal to absorb a 40-year-old Swiss private bank's Canadian client base
Nour Private Wealth Inc. has completed its acquisition of Mirabaud Canada Inc., the Canadian wealth management operation of Geneva-headquartered Mirabaud Group, in a deal that closed October 30, 2026.
The transaction marks the latest step in a rapid expansion programme for the Oakville, Ontario-based firm, which has now completed two major acquisitions within a single calendar year.
Mirabaud Group, a partnership-structured Swiss private bank founded in 1819, has maintained a presence in Canada for approximately four decades. Its Montreal-based operation served high-net-worth and ultra-high-net-worth families through discretionary portfolio management, advisory mandates, and wealth planning.
The deal transfers Mirabaud Canada's client relationships and service infrastructure to Nour Private Wealth, with both firms stating that client continuity is the foremost priority throughout the transition.
The acquisition was executed through Nour Private Management Inc. (NPM), an affiliated holding company tied to Nour Private Wealth.
A deepening platform
For Elie Nour, Founder and Chief Executive Officer of Nour Private Wealth Inc., headquartered in Oakville, Ontario, the rationale is straightforward.
"Our objective has always been to build a wealth management firm that places families, relationships, and long-term stewardship at the centre of every decision," he said. "We have long respected Mirabaud's heritage, its commitment to personalized advice, and the trust it has earned from Canadian families over many decades. We are honoured by the opportunity to welcome these clients and remain committed to delivering the same level of care, discretion, and excellence while expanding the resources available to support their financial future."
Nour Private Wealth, which became a member of the Canadian Investment Regulatory Organization (CIRO) in 2018, operates as both a mutual fund dealer and an investment dealer.
The firm focuses on ultra-high-net-worth families and institutional clients, delivering portfolio management, wealth planning, and what it describes as a fully integrated advisory model that encompasses family office services - governance, succession planning, tax efficiency, estate planning, and intergenerational wealth transfer.
The Mirabaud acquisition follows Nour's January 2026 agreement to acquire Goodwood Inc., a Toronto-based independent investment fund manager with nearly 30 years of market experience.
That deal, which Wealth Professional Canada reported as a significant move into fund management was completed in early 2026 and broadened Nour's access to private markets and alternative asset management capabilities.
The firm subsequently added Scott MacKenzie as an independent advisor to its board, a governance appointment Wealth Professional Canada covered as the firm built out its multifamily office infrastructure.
Mirabaud's view
From the Swiss side, the rationale centred on finding a Canadian firm with both the scale and the values to maintain Mirabaud's service standards.
"We selected NPW because of its strong Canadian presence, comprehensive wealth management capabilities, and clear commitment to personalized client service," said Lionel Aeschlimann, Senior Managing Partner of Mirabaud Group. "We believe NPW is very well positioned to provide our clients with continuity, stability, and access to an enhanced range of services while maintaining the high standards and long-term perspective that have always guided our relationships."
Mirabaud Group employs approximately 700 staff globally and maintains offices across Switzerland, the United Kingdom, Europe, the Middle East, and Latin America. Its withdrawal from direct Canadian wealth management operations reflects a broader trend among European private banks reassessing the economics of running standalone operations in the Canadian market.
Custody and clearing unchanged
Custody, clearing, trade execution, and brokerage services will continue to be provided by Fidelity Clearing Canada ULC (FCC), Nour Private Wealth's existing institutional partner.
FCC, which operates as a distinct Canadian entity and is itself a CIRO member and participant in the Canadian Investor Protection Fund (CIPF), serves investment dealers, portfolio managers, and other financial institutions across Canada. The retention of FCC as custodian is intended to minimize operational disruption for clients moving across from Mirabaud Canada.
Nour Private Wealth operates from offices in Oakville, Toronto, Montreal, and Point Claire, Quebec, and serves a diverse client base including international families with connections across Canada, the United States, Europe, and the United Arab Emirates. The Mirabaud Canada integration adds a client base with particular depth in Montreal and deepens the firm's Quebec presence at a time when it is building out full-service multifamily office capabilities nationally.
