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Swiss Investor Who Helped Form UBS Sells Up at Bank He Started

Martin Ebner in Zurich in 2003.
Martin Ebner in Zurich in 2003.Photographer: Marc Road/Bloomberg

The Swiss investor who once was a driving force behind the creation of the country’s biggest bank, UBS Group AG, has sold a majority stake in the lender he founded, BZ Bank.

Martin Ebner sold a 70%-stake in BZ Bank to Graubuendner Kantonalbank, the latter said in a press release on Monday. GKB didn’t disclose a price and only said it would use existing funds to pay for the deal.