History of Deutsche Bank in Canada
Deutsche Bank was founded in Berlin to promote and facilitate trade relations between Germany and international markets.
Deutsche Bank cooperated with other banks in the European Advisory Committee, later European Banks' International Company (EBIC).
EBIC opened a representative office in Toronto.
EBIC’s office in Toronto was transformed into a representative office of Deutsche Bank.
Canada and Deutsche Bank agreed a financial treaty amounting to Deutschmark 1.5 bn. Bonds of Deutschmark 600 m were floated by an international syndicate. A loan of Deutschmark 900 m was provided exclusively by Deutsche Bank.
Deutsche Bank (Canada), a fully owned subsidiary, was established in Toronto. It was the first German bank in the country.
The Canadian securities house McLean McCarthy Ltd. – founded in 1972 – was acquired by Deutsche Bank (Canada).
McLean McCarthy changed its name to Deutsche Morgan Grenfell Canada Ltd., the investment bank unit of Deutsche Bank in Canada.
Deutsche Bank (Canada) became a full service branch of Deutsche Bank AG.
