Brokerage also did not maintain clear segregation between broking and other activities of group companies. Their services include online stock broking, depository services, commodity trading and investment advisory services. HDFC Securities Ltd, is a stock broking and distribution arm of the HDFC Group. Edelweiss also offered equity broking, portfolio management, and wholesale financing services to individuals and corporates. Along with offering stock broking services, HDFC securities is also a distributor of financial products. In May 2008, HSBC acquired IL&FS Investment, an Indian retail broking firm. In 2007 the World Bank arm International Finance Corporation bought 18% stake in Angel Broking. To run the family he got into the family business of trading and stock broking. Its activity was mainly pawn broking and money lending carried out on a modest scale. Angel Broking is an Indian stockbrokerage firm established in 1987. The company publishes research reports on areas related to investment broking. In 1998 he changed direction, moving into retail broking, servicing private clients. Waterstone worked for a broking firm in Calcutta, India. The company opened its commodity broking Division in April, 2004. In 2007, IFC bought 18% stake in the Indian Financial firm, Angel Broking.