Investment Firm Will Open Ventura Office
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A fast-growing nationwide financial services concern plans to open a branch office in Ventura by the end of August.
The company, Waterhouse Investor Services Inc., based in New York, operates a discount brokerage and manages a group of mutual funds.
In addition to having plans to open a dozen new offices by Aug. 31, Waterhouse expects to introduce several new funds, including Waterhouse Investors Cash Management Fund, a money-market fund.
Waterhouse is a holding company that owns two principal subsidiaries, Waterhouse Securities Inc. and Waterhouse National Bank.
In its latest quarter, which ended Nov. 30, the holding company had net income of $6.2 million, or 54 cents a share, on revenues of $50.1 million. This compared with net income of $3.7 million, or 32 cents a share, on revenues of $28.1 million a year earlier.
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