Swiss private banking group Banque Heritage has acquired a majority stake in asset manager Meridian Wealth Management.
Established in 2013, Meridian Wealth is based in Lausanne, Switzerland.
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The deal will add CHF80m in assets under management and three employees to Heritage.
Financial terms of the transaction have not been disclosed.
In November 2015, Banque Heritage has completed the acquisition of a book of portfolio business from wealth manger Banque Hottinger & Cie, which is currently in insolvency.
Banque Heritage is planning to acquire further small independent wealth managers to help its assets under management hit a critical mass.
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