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January 10, 2018

Julius Baer buys remaining 20% stake in Kairos Investment

Swiss private bank Julius Baer has become the sole owner of Italy’s Kairos Investment Management by acquiring the remaining 20% stake in the firm for €96m.

However, Kairos will continue to operate under its existing brand and also retain its current executive management.

The firm’s founding partner and CEO, Paolo Basilico, will now also take up the role of chairman.

“We are very pleased with our development and growth over the last years as part of the Julius Baer Group. It confirms our ability to provide independent investment excellence to our clients and at the same time it is the result of our successful cooperation,” Basilico stated.

The Swiss bank said that Kairos’ assets under management increased to €11bn in 2017 from around €4bn in 2013, when it acquired a 19.9% stake in Kairos.

Julius Baer eventually purchased an additional 60.1% stake in Kairos in 2016 for €276m, taking its total holding in the Italian wealth manager to 80%.

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

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