Asset Management
Julius Baer Plots Closer Ties With Its Italian Business
Julius Baer has recently concluded a strategic review of the Italian business.
Julius Baer has
announced it intends to bring its business and the asset
management arm of recently-acquired Kairos closer together. The
move comes after the Swiss bank said it had completed its review
of the Italian business.
The business strategy, Julius Baer said, will include enhanced
access to Julius Baer’s wealth management products and services.
Kairos will also form an “important element” of Julius Baer’s
moves to expand its in-house investment capabilities.
Between the start of the strategic partnership in June 2013 and
30 June 2019, Kairos’ assets under management more than doubled
to over €9 billion ($9.9 billion).
“Our review has clearly shown that Julius Baer is the best owner
for Kairos, which offers significant potential for us to build
out our position in the attractive Italian wealth management
market. After a difficult 2018, the performance of Kairos funds
in the first half of 2019 has markedly improved,” Yves
Robert-Charrue, head of the Europe region for Julius Baer and
chairman of Kairos, said.
