There are a number of new faces — and a key departure — among the executive ranks of Dundee Wealth Management Inc. and its several subsidiaries as the Toronto-based financial services firm continues to build for “future growth.”

Gordon Martin has joined the management team as vice president of the retail division of both Dundee Securities Corp. , the firm’s Investment Dealers Association of Canada platform, and Dundee Private Services Inc. , a Mutual Fund Dealers Association member. The Dundee retail sales force comprises more than 1,900 advisors.

Martin will report to Jim McClocklin and Daniel Britnell, both executive vice presidents at the retail division of both the brokerage arm and the mutual fund dealership. McClocklin also adds the title of president of Dundee Mortgage Services Inc.

Dan Fraleigh was named vice president and head of fixed income for Dundee Securities.

Shaun Cumby is now chief risk officer for Dundee Wealth Bank and other subsidiaries under the Dundee Wealth Management umbrella.

Gone at Dundee is Daniella Dimitrov, who was chief operating officer for the brokerage arm, the mutual fund dealership and other subsidiaries, as well general counsel. Dimitrov’s responsibilities have been spread out among a number of executives, and there are no plans to name a replacement.

“All the changes are being made in the context of building a new business management and leadership team for Dundee’s future growth and development,” says Lorie Haber, executive vice president of Dundee’s brokerage arm, mutual fund dealership, bank, mortgage division and insurance subsidiaries.

These latest moves come on the heels of a raft of recent changes at Dundee Wealth Management made over the past six months.

In late November, Dundee Wealth Management brought aboard Haber and Kym Anthony, who became CEO of four Dundee subsidiaries and chairman of Dundee Wealth Bank, when Dundee bought the pair’s Nova Financial Ltd. for $23 million. Long-term Dundee chief Don Charter stepped down as CEO of Dundee Securities and associated companies.

In February, Anthony named McClocklin and Britnell as co-heads of the retail division, after Dundee Wealth Management purchased McClocklin and Britnell’s professional advisory company, Harrington Lane Inc. With the purchase, Harrington Lane was dissolved.

Also in February, Anthony named Greg Reed as head of Dundee Wealth Bank, which received its order to commence operations last July. Reed had been president and CEO of Toronto-based Altamira Investment Services Inc., a subsidiary of National Bank of Canada, until May 2005.

Anthony was president and CEO of National Bank Financial Ltd. until June 2005. IE