Waterhouse Investor Services is putting its imprint on the U.S. brokerage companies it has acquired in the past year.
On Nov. 1, Kennedy Cabot, a brokerage based in Beverly Hills, will take the Waterhouse name, said Frank Petrilli, president and chief executive officer of Waterhouse, a New York unit of Toronto-Dominion Bank.
And on Jan. 4, Waterhouse announced Thursday, it will meld the institutional brokerage of Jack White & Co. of San Diego into a new unit, Waterhouse Institutional Services.
Peter Mangan, who ran Jack White's institutional business, was named executive vice president of the new subsidiary.
Waterhouse acquired Kennedy Cabot late last year for roughly $155 million. It bought Jack White in June for about $100 million.
The integration will be Toronto-Dominion's first concerted effort to harness its brokerage operations under the Waterhouse name.
The banking company has been an aggressive acquirer of brokerage operations in the United States and abroad.
John Chapel, president of Waterhouse Securities, said he thinks the name change is needed to avoid customer confusion. "We're building a brand awareness we never had before," he said.
Mr. Mangan said that while Waterhouse and Jack White's front offices will be merged by January, it will take until late February to combine their back-office clearing operations.
The combined unit will retain offices on the East and West coasts, he said.
Waterhouse and Jack White each bring about 1,250 investment advisory relationships to the new subsidiary, Mr. Mangan said. However, roughly 5% of those relationships will overlap, as it is "very common for independent advisers to use more than one firm," he said.
The combined unit will also cater to boutique advisory firms and broker- dealers, including those affiliated with banks and credit unions, Mr. Mangan said.
For now, Jack White's retail operation will retain its identity, operating under the tag, "Jack White & Co., a unit of Waterhouse," said Mr. Petrilli. The company, which includes a sizable mutual fund supermarket, has built considerable investor awareness through advertising in recent years.
However, all retail brokerage trades will begin clearing through Waterhouse's clearing arm at the same time as the institutional business, Mr. Petrilli said.