hen one of Canada’s leading investment firms

began exploring opening an office on
Vancouver's North Shore, it became a home-
coming for some of the company’s top talent. Of the nine
senior Investment Executives at ScotiaMcLeod’s new office
on Marine Drive in West Vancouver, eight are established
North Shore residenis.

Why open a separate office in West Vancouver? There
were several compelling reasoris and no drawbacks, accord-
ing to branch manager and Investment Executive Alex
Besharat.

“With advances in technology, heing downtown isn’t an
issue anymore,” he says. “At our office in West Vancouver
we are completely plugged in to all the important informa-
tion sources, and we now have a presence in the communi-
ty. With an accessible location on Marine Drive, it’s easier
for clients to drop in and meet with us face-to-face, which
helps develop personal relationships.’

According to Besharat, a North Shore office wili help
ScotiaMcleod focus on the needs of a distinct market.

A 78-Year Tradition of Trust

ScotiaMcLeod has grown from a ‘Toronto office of four people
and one telephone dealing with government and municipal bonds
in 1921 toa top-ranked investment banking institution
managing $27 billion on behalf of individual investors across the
country.

The company started with four entrepreneurs, D.I. McLeod,
William Ewart Young, James Gordon Weir and John Henry
Ratcliffe, who worked together at the brokerage company, A.E.
Ames & Co. In February, 1921, the four partners started
McLeod, Young, Weir and Co. with $23,000 of working capital.
They chose to deal with government and municipal bonds alone,
the most appealing claag of investment at the time.

Soon the partners expanded from their office in Toronto to
open branches in New York, Montreal, London (Ontario),
Hamilton and Winnipeg. Business flourished as the Canadian
market did in the mid-1920s.° By the end of the decade, the
company had started dealing with corporate financing.

- The October 1929 stock market crash did not affect the
fortunes of Mcleod, Young, Weir and Co. Ltd., as the firm had
confined itself to high-grade honds. However, when Great
Britaizs abandoned the gold standard in 1931, investment houses
dealing with these bonds were devastated. The firm recovered by
teaming with two other young firms to form a syndicate that bid
for government and municipal bonds by public tender. The group
soon ame a competitive force in the industry.

As the Canadian economy boomed after the Second World
War, so too did McLeod, Young, Weiz and Co. The firm began
distributing Government of Canada Treasury Bills and opened
offices across Canada and internationally, By the 1970s, their
- business had diversified to include a complete range of
investment services: bond, stock and moncy trading, corporate
and government finance, mergers and: acquisitions, mutual
funds...the list goes on.

In the mid-i980s, barriers started to fall and common
ownership of hanks, trust and insurance companies and securities
dealers was permitted. Looking for a way to join the competitive
investment industry, the Bank of Nova Scotia set its sights on
McLeod, Young Weir and Co. In March, 1988, ScotiaMcLeod
Inc. was form

After 67 years 3 of private ownership, a new era hegan for the
firm. The association with a world class bank opened up growing
global opportunities for ScotiaMcLeod. Today the firm provides a
full range of investment banking, brokerage trading and. financial
advisory services. The firm's success can be measured by its many
long-term clients who rely on ScotiaMcLeod for its defensive
portfolio management style. For the past decade, the company’s
clients have ranked ScotiaMcLeod number one in the Canadian
Fixed Income market.

“Our clients have been asking us to come to the North
Shore for years,” he explains. “Anyone who has lived on J
this side of the Lion’s Gate Bridge knows the North Sho
is a special community with its own personality. We're
delighted to be here, dedicated to serving investars on thell
North Shore.”

The lure of the North Shore has helped Besharat asse:
ble an extremely high-calibre team. With an average of I
years experience in the industry, ScotiaMcLeod’s
Investment Executives in the North Shere office offer a
tremendous range and breadth of expertise.

Says Besharat, “For any possible question about the
investment industry, the answer is here. By sharing ideas, Noe
answering each others’ questions and offering advice to o
another, we provide investors with an unparalleled level of
service.”

; if you ‘d like to learn more about investing through /
ScotiaMcLeod, call our North Shore office at 913-7000 to

arrange an introductory meeting.

PCO)
ae

ScotiaMicLeod and the 4 North Shore Scotiabank branches —
working together to meet all your financial needs.

ScotiaMcLeod Scotiabank 3

Sponsored i in part by Trimark Investment Management, Mackenzie, Templeton, Spectrum United, Fidelity Investments @ AGE. Member of CIPF