Banque Cramer buys Valartis Group’s wealth management business (from Reuters)

Banque Cramer buys Valartis Group’s wealth management business

Banque Cramer & Cie said it will acquire Valartis Group’s Swiss wealth management business for an undisclosed cash sum and a 25 percent stake in its parent company.  The latest in a slew of mergers and acquisitions among Swiss banks faced with a drop in client numbers after a loosening of the country’s secrecy laws will nearly double Cramer’s assets under management to 4.8 billion Swiss francs…

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