The first major milestone was recently reached: on June 1st, the Bank of Italy authorized Kairos Julius Baer SIM to begin operations. Resulting from the strategic partnership of Kairos Investment Management S.p.A., a leading Italian asset management company, and Julius Baer Group Ltd., a Swiss private bank boasting the most significant international presence, the brokerage firm is “a long-term project focusing its attention and investments on Italy, considered a market of great interest,” announced Paolo Basilico, founder and Chairman of Kairos. He went on to emphasize that the project’s Italian nature will be ensured by Fabrizio Rindi, who will head the new business. And not only that. The project will develop further with an application to be submitted to the supervisory authorities for authorization to establish a private bank in Italy offering wealth management and financial advisory services.