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Julius Baer to raise its stake in Kairos, list the Italian group
November 16, 2015 / 7:03 AM / in 2 years

Julius Baer to raise its stake in Kairos, list the Italian group

MILAN, Nov 16 (Reuters) - Swiss bank Julius Baer said on Monday it would raise its stake in Italian wealth manager Kairos to as much as 80 percent and will then list it on the Milan bourse next year.

Current shareholders in the wealth manager, including some of its executives, will maintain a significant stake in Kairos after the listing.

The plan aims to strengthen further Kairos’s presence on the Italian asset management sector and expand its business with institutional investors and its private banking activities, Julius Baer and Kairos said in a joint statement.

Reporting by Francesca Landini; Editing by Edwina Gibbs

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