Graubündner Kantonalbank (GKB) is acquiring a 70% stake in Swiss investment boutique BZ Bank for an undisclosed amount.
The transaction is expected to close on 1 July 2022, subject to regulatory approval.
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Founded in 1985, BZ Bank advises professional, private and institutional clients on stock investments and participation in both listed stocks and private equity.
The investment will enable the bank to continue pursuing its strategy independently. It was previously owned by Swiss financier Martin Ebner and his wife Rosmarie Ebner.
The deal is part of GKB’s ongoing investment strategy and generates additional growth opportunities for the bank in addition to risk and return diversification.
It is also expected to help expand its position in the investment business and secure access to specialised investment expertise.
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By GlobalDataWith this investment, GKB’s assets under management will increase to over $50.6bn (CHF50bn).
GKB Bank Council president Peter Fanconi said: “With our investment strategy, we have been systematically supporting our earnings situation for years and strengthening our positioning in the investment business.
“This secures future distributions to our owners and helps support the canton of Graubünden. Our new partnership with BZ Bank and its customers underlines the unique attractiveness of GKB.”
GKB CEO Daniel Fust noted that the BZ Bank’s expertise complements GKB’s existing investment know-how and opens up further growth opportunities.
Fust added: “Together with the management of BZ Bank, we want to further develop the business activities and expand the existing offering in the investment business for GKB customers as well.”
Commenting on the deal, Ebner said: “I am convinced that in GKB I have found the ideal partner for the further successful development of BZ Bank.
“The Graubündner Kantonalbank secures the positioning of the independent BZ Bank brand in the interests of its long-standing customers and employees. We are also pleased that we can contribute further specialist knowledge to GKB’s investment business, particularly with our private equity expertise.”
