Lender Julius Baer has decided to keep its Italian subsidiary Kairos after compl...
FILE PHOTO: The sign for Swiss bank Julius Baer is seen at a branch office in Luzern, Switzerland, November 23, 2017. REUTERS/Arnd Wiegmann
Julius Baer had put Kairos under strategic review after it suffered outflows on the heels of poor fund performance in 2018. It said in July it was considering options including divesting the unit, forming a partnership or keeping it and trying to improve profitability. “After a difficult 2018, the performance of Kairos funds in the first half of 2019 has markedly improved.”Baer now intends to more closely align Kairos’ wealth management business serving clients based in Italy with its own, including better access to the its products and services, the bank said.
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