We prove that for any Bernstein function the operator generates a holomorphic -semigroup on a Banach space, whenever does. This answers a question posed by Kishimoto and Robinson. Moreover, giving a positive answer to a question by Berg, Boyadzhiev and de Laubenfels, we show that is holomorphic in the holomorphy sector of and if is sectorially bounded in this sector then has the same property. We also obtain new sufficient conditions on in order that, for every Banach space , the semigroup on is holomorphic whenever is a bounded -semigroup on . These conditions improve and generalize well-known results by Carasso-Kato and Fujita.

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