IE Staff
(October 29 – 15:00 ET) –
National Bank of Canada has
created a new wholly-owned
subsidiary for its discount
brokerage activities. Effective
November 1, 1999, the InvesTel
service, which until now has been
administered by the subsidiary
National Bank Securities Inc.,
officially becomes National Bank
Discount Brokerage Inc.
The new structure will in no
way affect investors’ accounts, the
Bank said in a prepared statement.
The only noticeable difference
will be that the new subsidiary’s
logo will now appear on statements
of account and other printed
material sent to investors, says
the Bank.