TD Waterhouse and DBS to launch SE Asian investment venture

TD Waterhouse and DBS to launch SE Asian investment venture

TD Waterhouse is teaming up with Singapore's DBS Group to launch a multi-market, multi-channel brokerage and investment house for South East Asian consumers.

The two companies will each have an equal stake in the proposed joint venture, which is expected to begin operations sometime in the fourth quarter of 2001. The new company will provide self-directed investors access to a broad range of global investment services through the Internet, call centres, kiosks, and other distribution channels.

Initially the joint venture will serve customers in Hong Kong and Singapore with plans to expand into other Asian markets. Hong Kong will operate as the hub for North Asia and Singapore for Southeast Asia.

DBS Group's vice chairman & CEO, Philippe Paillart says that by leveraging TD Waterhouse's online expertise, DBS will be able to its customers "with more financial products, from more countries, through more channels, in the shortest amount of time.".

The new company will allow customers to trade stocks in Singapore, Hong Kong, the United States, Canada and other international markets. Customer will also have access to a broad range of financial products including mutual funds, private placements and IPOs, fixed income investments, asset allocation tools and third-party research and information. Investors will be able to make trades and purchase investments through multiple channels, including call centres, Internet, mobile devices, Web TV systems, or DBS branches.

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