American Gem buys brokers St. James Securities

Article Abstract:

Mining company American Gem Corp has acquired St. James Securities Inc, a small stockbroker in Canada's Bay Street, as part of an effort to abandon mining and expand into electronic brokerage and Internet marketing. Northern St. James Securities Inc is the new company that will be formed as soon as the deal is finalized in late fall of 1999. Vic Albioni, chairman of Northern Securities Inc, amother small brokerage house acquired by American Gem in early 1999, will become the chairman of the new company.

Stock Brokerage, St. James Securities Inc.

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E*Trade Group snaps up Versus

Article Abstract:

Palo Alto, Calif.-based E*TRADE Group Inc. has acquired Toronto, Ont.-based Versus Technologies Inc. E*TRADE, which is an online brokerage firm, will acquire Versus for $174 million through its Canadian affiliate, E*TRADE Canada.

Stockbrokers, E*TRADE Financial Corp., EGRP, E*TRADE Technologies Corp., E*TRADE Canada Securities Corp.

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Brokerages told to expect consolidation

Article Abstract:

Consolidation among Canadian brokerage firms is expected.

Securities Dealers, Investment Banking and Securities Dealing

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