Julius Baer subsidiary Kairos has named Alberto Castelli as its new chief executive.

Mr Castelli’s role takes effect on 1 January and he succeeds Fabrizio Rindi, who has led the group towards a new phase of development since September 2019. As already announced, Mr Rindi will take up the position of Kairos Partners chairman.

Mr Castelli will also become a minority stakeholder in Kairos, a wealth management and alternatives firm which Julius Baer first took a stake in in 2013.

The new arrangement was designed to help Kairos operate once again as an independent boutique, after its founding partners Guido Brera...