The two firms have agreed to set up a new private bank in the country as part of the deal.
Meanwhile, the regulatory approval for the acquisition is expected to be granted in the first half of 2013.
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Also, the managers have left open the option to increase Julius Baer’s participation in Kairos, following the deal.
Boris Collardi, chief executive at Julius Baer, said: "Thanks to our strategic participation, we will increase our presence in the domestic Italian wealth management market. This move underlines our commitment to further grow and develop our business in Italy."
Currently, Kairos employs around 115 people of staff and manages EUR4.5 billion, while Julius Baer had CHF184 billion under management at the end of August 2012.
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