Scotiabank reassures nervous E-Trade customers

TORONTO: With its C$444 million purchase of E-Trade Canada, The Bank of Nova Scotia is letting ETrade customers know the big bank isn't about to change the discount brokerage.

TORONTO: With its C$444 million purchase of E-Trade Canada, The Bank of Nova Scotia is letting E-Trade customers know the big bank isn't about to change the discount brokerage.

“We wanted to send a strong message to E-Trade customers, because one of the reasons they might be with E-Trade is because it is an independent,” said Frank Switzer, Scotiabank's director of public affairs. That reason is evident in several blog and discussion group postings, where people fear the acquisition could mean the end of E-Trade's low fees.

Scotiabank bought a full-page ad in the business section of The Globe and Mail and the National Post. The headline of the ad reads “What you like about E-Trade Canada is what we like about E-Trade Canada”, and assures customers “we would be foolish to change what makes it great for you.”

Agency Bensimon Byrne wrote the ad.

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