(January 26 – 10:00 ET) – Quebec-based fund dealer Capital Teraxis inc. has signed a letter of intent with B2B Trust, a subsidiary of Laurentian Bank of Canada, for the development of private label financial products and services.

Under the agreement, Capital Teraxis and B2B Trust will negotiate the development of financial products and services to be marketed under the Capital Teraxis brand and offered to its employees and clients.

The array of products and services includes, chequing and savings accounts, debit cards, Visa credit cards, investment loans, mortgage loans, loyalty program, transactional Web site and an automated and transactional telephone service. The firms have agreed to sign an agreement by July 17.

“We are pleased to have concluded this agreement,” said Michel Fragasso, president of Capital Teraxis. “B2B Trust’s expertise will enable us to expand our offer of financial products and services in order to serve our clients better.”

Michel Pelletier, co-chief operating officer of B2B Trust, said, “We created B2B Trust to give companies like Capital Teraxis access to a range of high quality banking and financial products and services they can offer to their clients.”

Capital Teraxis operates through subsidiaries, Services financiers Teraxis inc., Tandem Financial Services, Placements Lunor inc., and its insurance distributor, Groupe CMA. It has 750 financial advisors and about $2.5 billion in assets under management.
-IE Staff