TRIMARK SCOOPS BAYSHORE
By Adnews Staff
Toronto-based Trimark Financial Corp. has signed a letter of intent to buy Bayshore Trust of Toronto for $35 million. The move means Trimark will be able to offer its customers chequing privileges as well as access to automated teller machines and other electronic banking services. Advertising for Trimark is done by Leo Burnett Company of Toronto. Company chief operating officer David Stewart told Adnews that the agency will "likely" use Burnett for the trust company as well, but this is "subject to looking at current agency arrangements." Bayshore does little advertising. Promotional materials are created in-house and Hill & Knowlton of Toronto handles PR. Trimark expects to reach a definitive agreement with Bayshore by the end of September, and close the deal by the end of the year. At that time, Trimark will change Bayshore's name to Trimark Trust. Trimark will sell only its money market funds through the trust's branches. Bayshore will stop selling Templeton Management Ltd. funds when the deal closes. Bayshore has eight branches in Toronto, Calgary and Ottawa.