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Julius Baer increases stake in Kairos to 100%

Julius Baer increases stake in Kairos to 100%

Julius Baer, the leading Swiss private banking group, has announced today the increase of its stake in Kairos Investment Management SpA (Kairos) to 100%. Paolo Basilico resumes the role of Chairman of Kairos, besides his position of CEO of the company.

Zurich, 9 January 2018 – Today, Julius Baer has announced the increase of its stake in 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 EUR 96 million, subject to closing adjustments.

Kairos delivered an excellent performance in 2017. Assets under management grew to EUR 11 billion, up from approximately EUR 4 billion 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 CEO 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.

Bernhard Hodler, CEO of Julius Baer, commented: “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.”

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