Advertisement

California | SOUTHLAND FOCUS

JB Oxford to Buy Assets of Royal Bank Unit

April 03, 2001|Bloomberg News

JB Oxford Holdings Inc. agreed to buy the accounts and assets of Royal Bank of Canada's Bull & Bear Securities Inc. subsidiary for an undisclosed amount of cash to expand its brokerage business. Los Angeles-based JB Oxford will gain 23,000 accounts and $250 million in assets, bringing its totals to 181,000 and $2.2 billion. Royal Bank will retain the name of New York-based Bull & Bear. JB Oxford shares fell 9 cents to $1.13 on Nasdaq. Oxford also said it's postponing the launch of a new ad campaign "pending an improvement in the market environment."

Advertisement
Los Angeles Times Articles
|
|
|