Swiss investment bank Julius Baer will exercise its option right to raise Kairos from 19,9% to 80% and in the first half of 2016 will place part of its stake on the Milan Stock Exchange. This was stated by the Italian asset management company in a note released this morning, specifying that the Kairos shareholders will maintain a significant stake even after the listing of the group.
The objective of the operation is to "strengthen Kairos' leadership in the Italian asset management market - continues the press release - and grow on the foreign institutional market and in the private asset management and advisory sector through a strong shareholder structure and motivated management" .
Paolo Basilico, president and chief executive officer of Kairos, will continue to manage the Group's activities together with the other partners and the current management team, with independent majority governance.
“Now a very important new phase is opening up for Kairos – commented Basilico – we will grow even faster and we will develop our business even beyond national borders, but always in compliance with those values that have distinguished us from birth: integrity, independence and the alignment of our interests with those of our clients. Customers have always seen us as a different management reality, with strong skills and an alternative to big industry. This entrepreneurial approach will not change”.
