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Gold/Mining/Energy : Capital Alliance Group - CPT (CDNX) -- Ignore unavailable to you. Want to Upgrade?

To: John Powell who wrote (316)	4/18/2000 8:01:00 PM
From: Eashoa' M'sheekha	Respond to of 960

Important Little Piece Of Info Today. Looks like these guys realise what CPT knew for some time. Their target customers and services rendered are not in competition at this time though.CPT are going for the average retail investor from what I can gather,and offer no banking services. JUst goes to show how important these companies regard the internet boom about to happen in the rest of the world. ************************************************************ HSBC, Merrill Lynch Unite for Online Bank, Services By Tom Giles London, April 18 (Bloomberg) -- HSBC Holdings Plc, Europe's largest bank by market value, and Merrill Lynch & Co. are creating an online banking and financial services company to gain wealthy individual clients in new markets. The biggest U.S. securities firm by capital and number of brokers and HSBC will provide up to $1 billion to create the company, which will be based in London and offer banking and brokerage services to customers outside the U.S. It will target the ``mass affluent,' people with investible assets of $100,000 to $500,000. The move comes as European banks and brokerages rush to sell a growing array of products and services over the Internet to slash costs and win customers. ``With Merrill and HSBC, you've got two of the best in financial services,' said Stuart Liu, an analyst who follows HSBC at ICEA Securities Ltd. in Hong Kong. ``This is a long-term strategic move, and the real impact is going to be one or two years down the road.' The project ``is aimed at clients that deal with neither organization at present,' HSBC Chairman John Bond said during a telephone interview. The venture comes less than a month after HSBC agreed to buy Credit Commercial de France SA for 11 billion euros ($10.5 billion) in large measure to boost business with wealthy investors and companies. The bank, which doesn't yet have a name, will be started later this year in the U.K., followed by Australia, Canada, Germany, Hong Kong and Japan, with other parts of the world to follow. Liu said he doesn't see much short-term increase in share prices. ``The market is pretty much in anticipation of these kinds of online moves,' he said. HSBC shares are up as much.