Swiss private banking group Julius Baer has appointed Fabio Bariletti as the new CEO of Kairos, its asset management unit in Italy.
Working at Kairos for around two decades, Bariletti currently serves as the CEO of Kairos’ London branch.
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Kairos manages over €10bn in assets.
Bariletti will take on the new responsibility on 16th of this month.
He will be in charge of Kairos Investment Management and Kairos Partners.
He replaces Kairos founder Paolo Basilico as part of a “long-term succession planning” process.
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By GlobalDataBasilico will now serve as an adviser to Kairos.
“Fabio had long been designated as my successor. We have built a strong and unique business, which I leave in very capable hands,” Basilico stated.
Julius Baer initially purchased a 19.9% stake in Kairos in 2013.
Three years later, Julius Baer acquired another 60.1% stake in Kairos in a deal worth €276m.
Earlier this year, the Swiss private bank acquired the remaining 20% holding in Kairos for €96m, becoming its sole owner.
Julius Baer CEO Bernhard Hodler said: “Under the leadership of Fabio, Kairos will undoubtedly continue its outstanding work with clients and in the management of its distinctive products.
“Jointly we will work to ensure the prosperity of Kairos well into the future.”
