Thurgauer Kantonalbank (TKB) has acquired a minority stake in Zurich-based asset manager Arete Ethik Invest.
Cantonal Bank announced on Wednesday that it had acquired the stake to expand its range of sustainable investment services. TKB will own approximately 25% of the share capital and will join the board of directors of Arete Ethik.
However, Arete will continue to operate independently in the market.