Julius Baer raises stake in Kairos
Swiss bank Julius Baer has raised its stake in Italian wealth manager Kairos to 80% and said it plans to list it on Borsa Italiana in 2016.
Kairos shareholder will keep a “significant stake” in the company also after the listing, Julius Baer said.
Julius Baer’s decision aims to “strengthen Kairos’ leadership in the Italian asset management sector as well as boost its foreign footprint in the institutional and private banking segments.”
The stake rise comes two years after the launch of Kairos Julius Baer SIM, when Julius Baser entered Kairos’ capital with a 19.9% share.
Paolo Basilico (pictured on the right), CEO of Kairos, will continue to manage the group alongside the other company’s founders.