(Finance) – Julius Baeran important Swiss company active in wealth management, stated that the sale of Kairos to Anima is consistent with “the strategic focus by Julius Baer on your own core business and allows it to focus and further develop its business with Italian customers served from Switzerland and elsewhere.”
Kairos holds assets under management of approximately 4.5 billion euros and operates as one of Italy’s leading investment houses, focusing on innovative and actively managed investment solutions. At the end of June 2023, Julius Baer’s assets under management amounted to 441 billion francs.
Julius Baer expects the transaction it will not have a significant impact on profits or capital ratios.
Julius Baer acquired Kairos from its previous equity partners as part of astaggered acquisition which began with the purchase of a 19.9% minority stake in 2013 and acquired full ownership in 2018. In 2020, Julius Baer sold 30% of Kairos to key Kairos executives, to whom further participations followed in 2021 (up to 35%).
As Anima reported, Julius Baer and Kairos management have agreed to sell Kairos to Anima for approximately 20-25 million euros.
(Photo: Photo by Sean Pollock on Unsplash)