The bank's Italian wealth management subsidiary is getting a new CEO.
Julius Baer announced that Fabio Bariletti will become the new chief executive of Kairos Investment Management SpA and Kairos Partners SGR SpA, which are wholly-owned subsidiaries of the Swiss bank. The appointment is effective as of 16 April.
Kairos is a wealth and asset management organisation, based in Milan, which oversees more than €10 billion ($11.3 billion) of assets.
Bariletti has been with Kairos for almost 20 years. He built the company’s multi-manager business, acted as its general manager and is CEO of its London branch, specialising in single-manager and multi-manager alternative funds. He succeeds Paolo Basilico, one of the founders of Kairos, following his decision to step down and as part of his long-term succession planning. Basilico will continue to act as an advisor to Kairos.
“Fabio had long been designated as my successor. We have built a strong and unique business, which I leave in very capable hands. Stepping down is not a decision I have taken lightly, but I believe the timing is right for me personally and for the company,” Basilico said.
The Swiss bank moved to buy all of Kairos, in which it previously had held a stake, in January last year.