"Commonwealth may buy private client broker AOT 1 December 2004
Commonwealth Bank is negotiating to buy broking firm AOT, at a rumoured price of less than $50 million. AOT is an "execution only" broker, with low rates for institutional investors. Together with CommSec, AOT would make CBA a top 10 broker. AOT has a strong relationship with fund management firms such as Perpetual and also offers services to high net worth retail clients. AOT's local management recently initiated a buyout of the equity held by their Dutch parent."
