(February 8 – 10:45 ET) – TD Waterhouse Group Inc. is unveiling Tata Finance TD Waterhouse Ltd. The new firm will launch financial services in India, primarily brokerage and online trading.
Initially it will operate from Tata’s 75 branches throughout India, launching online trading once approvals are obtained. TD Waterhouse will own 49.9% of the joint venture, which will be headquartered in Bombay.
“With over 25 million investors and rapid Internet penetration, India is a growth market with tremendous business potential. In fact, we believe it is one of the top growth markets for financial services,” said Stephen McDonald, chief executive of TD Waterhouse. “Together with Tata, we will become the premier financial services company in India.”
-IE Staff