COMPANIES

Burns Fry has restructured its alliance with Security Pacific Corp. of Los Angeles, ending a plan for Security Pacific to take a larger stake in the Canadian investment dealer. Security Pacific’s equity interest in Burns Fry will remain at 30% and be treated as a portfolio investment. Originally, Security Pacific was to increase its interest to 49% as part of a plan to strengthen Security Pacific’s international investment banking network. Burns Fry’s employees and its subsidiaries will control the remaining 70% of the independent dealer.