Julius Baer Acquires 100 Per Cent Stake In Italian Wealth Manager

Robbie Lawther

10 January 2018

Swiss private bank Julius Baer has increased its stake in Italian asset management and private banking firm Kairos Investment Management to 100 per cent, extending its footprint in the country.

The group initially purchased 19.9 per cent of Kairos in 2013, followed by an increase to 80 per cent in 2016. The consideration for the additional 20 per cent stake is €96 million , subject to closing adjustments, Julius Baer said in a statement yesterday.

Assets under management at Kairos have grown to €11 billion, up from approximately €4 billion when Julius Baer and Kairos started their strategic partnership in 2013.

Kairos will continue to operate under its name and identity, and its executive management will remain unchanged. Paolo Basilico, founding partner and chief executive of Kairos, has been appointed as chairman, a role he previously covered until April 2016. He remains CEO of the company.

“Kairos has successfully and profitably expanded its excellent position in the Italian wealth management sector ever since our partnership commenced in 2013,” said Bernhard Hodler, CEO of Julius Baer. “We are pleased to be able to further solidify Kairos’s status in the Julius Baer Group.”

Julius Baer employs a staff of over 6,000, including close to 1,400 relationship managers, and is present in over 25 countries and more than 50 locations. It is headquartered in Zurich, and has offices in Dubai, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Milan, Monaco, Montevideo, Moscow, Mumbai, Singapore and Tokyo

Founded in 1999, Kairos is an asset management and private banking firm. The group employs 150 people and has offices in Milan, Rome, Turin and in other major international financial markets.