td waterhouse buys up credit suisse first boston's online brokerage
TD Waterhouse is to buy online broker DLJdirect from Credit Suisse First Boston (CSFB) for an undisclosed sum. CSFB acquired US investment bank, Donaldson, Lufkin and Jenrette last October but has recently divested from all online brokerage activities. The deal, which is still subject to regulatory approval, came about after CSFB approached TD Waterhouse in an attempt to offload its internet service. CSFB simultaneously announced the sale of the US online brokerage subsidiary of DLJ, which had been rebranded CSFBdirect, to the Canadian company, the Bank of Montreal. The move contin...
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