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TD Waterhouse Buys Online Brokerage DLJdirect

by Carla Johnson, Investors Offshore.com

07 December 2001


The TD Waterhouse Group has announced that it will acquire UK online brokerage firm, DLJdirect, early in the New Year for an undisclosed sum from global investment bank Credit Suisse First Boston.

Steve McDonald, CEO of TD Waterhouse, commented: 'The UK is an important market for TD Waterhouse and this acquisition is an excellent way for us to add scale to our operations in the UK, where we are already a leader.'

Launched in the UK two years ago by Donaldson, Lufkin and Jenrette, DLJdirect was bought by Credit Suisse First Boston just a year later in October 2000 and this latest acquisition will see Credit Suisse First Boston as DLJdirect's third owners in as many years.

'We are delighted to become a part of the TD Waterhouse Group,' said Shaun Pratley, CEO of DLJdirect. 'Customers of DLJdirect will benefit from this acquisition, as we combine our expertise to offer an integrated range of products and services.'

DLJdirect offers trading in UK, US and international equities, funds and bonds through dealing, ISA, PEP and SIPP accounts, and online brokerage services for Investment Clubs, Companies and Trusts.


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