A Swiss state institution takes a majority stake in the investment boutique BZ Bank.
Graubuendner Kantonalbank (GKB) has acquired a 70 percent stake in Switzerland's BZ Bank, founded by Martin Ebner in 1985, according to a statement from the GKB on Monday (in German).
The investment opens up additional growth opportunities for GKB in addition to risk and return diversification and is a continuation of its investment strategy. BZ Bank, which focuses on equity investments and private equity and was previously owned by Swiss financier Martin Ebner and his wife Rosmarie Ebner, will be able to continue to pursue its strategy independently, according to further reports. No details were given on the price of the transaction.
Client Assets
From GKB's point of view, BZ Bank's core investment expertise complements its investment expertise and rounds off its product range. With the investment, state-owned GKB increases client assets under management to more than 50 billion Swiss francs ($50.6 billion).
GKB is financing the transaction from its own funds, which takes effect at the beginning of July, subject to regulatory approval. The impact on the profit forecast for the current year is insignificant and does not require any adjustment, the statement said.
A Swiss Banking Legend
BZ Bank advises professional, private, and institutional clients on equity investments and shareholdings in exchange-traded securities and private equity. It was the flagship of Martin Ebner's diverse financial business activities.
Equity capital from private investors was and still is used to finance further development and growth even for unlisted companies, enabling many companies to substantially broaden and accelerate their business activities.
Systemically Broad-Based
In addition, BZ bank is also active in asset and collective investment management and corporate advisory.
«With our investment strategy, we have been systematically supporting our earnings position more broadly for years and strengthening our positioning in the investment business. This secures future distributions to our owners and supports the Canton of Graubuenden. Our new partnership with BZ Bank and its customers underlines the unique attractiveness of GKB,» said Peter Fanconi, chairman of the Bank Council of GKB.
