Julius Baer acquires full stake in Kairos

Swiss financial group Julius Baer has increased its stake in Italian asset manager Kairos to 100%.

The group initially purchased 19.9% of Kairos in 2013, followed by an increase to 80% in 2016. The consideration for the additional 20% stake is €96m, subject to closing adjustments.

Kairos asset under management grew to €11bn in 2017, up from approximately €4bn when Julius Baer and Kairos started their strategic partnership in 2013.

Kairos represents Julius Baer’s exclusive gateway to the attractive Italian domestic wealth management market. The company will continue to operate under its well-established name and identity, and its executive management will remain unchanged.

Paolo Basilico, founding partner and chief executive officer of Kairos, has been appointed as chairman, a role he previously covered until April 2016. He remains CEO of the company, leading a well-established team of investment professionals.

Italian partnership

Bernhard Hodler, CEO of Julius Baer, 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.”

Paolo Basilico added: “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. We look very much forward to further deepening the partnership with Julius Baer.”

Ridhima Sharma
Ridhima Sharma is Correspondent for InternationaInvestment. She speaks German and is also DACH Correspondent for InvestmentEurope. She has more than 8 years of experience in the media industry. Before joining us, she was working in India and covering automotive and lifestyle sectors. Over the years many of her stories have been published in various magazines across India.

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