Abstract. Using functional calculi theory, we obtain several estimates for ψ(A)g(A) , where ψ is a Bernstein function, g is a bounded completely monotone function and −A is the generator of a holomorphic C0-semigroup on a Banach space, bounded on [0, ∞). Such estimates are of value, in particular, in approximation theory of operator semigroups. As a corollary, we obtain a new proof of the fact that −ψ(A) generates a holomorphic semigroup whenever −A does, established recently in [8] by a different approach.