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Swiss Asset Manager Buys Clariden Bank Subsidiary

Contributing Editor

4 January 2006

Zug-based Alpine Select, an investment management company, has bought a majority share in Aramus, an investment management subsidiary of Zurich-based Clariden Bank, part of the Credit Suisse Group. Alphine Select is believed to have paid SFr65.5 million ($50.8 million) for Aramus, although that has not been confirmed. Alpine Select said in late December the deal had completed and that Aramus’s name had been changed to Sumara.