Julius Bair Forms Strategic Partnership with Kairos

November 12, 2012

On November 12, 2012 Julius Baer (BAER) announced that it had reached an agreement with Kairos Investment Management SpA to create a wealth management business and to establish a new private bank in Italy; both ventures will be run under the name Kairos Julius Baer.


On November 12, 2012 Julius Baer (BAER) announced that it had reached an agreement with Kairos Investment Management SpA to create a wealth management business and to establish a new private bank in Italy.  Julius Baer’s Italian SIM will merge into Kairos and Julius Baer will simultaneously acquire 19.9% of Kairos.  This transaction is subject to regulatory approval and is expected to close in the first half of 2013.  The parties have agreed to separately apply for a banking license after the closing of the transaction.  The wealth management activities of both businesses will be run under the name Kairos Julius Baer.  Julius Baer will appoint two directors to the board of Kairos Julius Baer and two directors to the board of Kairos Investment Management SpA.  The terms of the transaction were not disclosed.

Kairos is an independent wealth mangers with approximately €4.5 billion of assets under management.  Julius Baer is a Swiss private banking group with offices in more than 20 countries and approximately CHF 148 billion of assets under management.

To read the press release, please click here.


Categories

Investment Manager M&A, Investment Manager Strategic Investments, Transactions