Dundee Corp. is reorganizing its business into wealth management and merchant banking divisions, and has appointed David Goodman as president and CEO of the firm.
The Toronto-based firm (TSX:DC.A) announced Monday evening that it is returning to the corporate structure it used to build its previous wealth management businesses, DundeeWealth and Dynamic, before they were sold to the Bank of Nova Scotia. In doing so, it’s putting its various wealth management businesses, including Goodman & Co. Investment Counsel, Dundee Capital Markets, Dundee Goodman Private Wealth and Dundee Securities, together in a new division. Its other interests in resources, agriculture, food and real estate will comprise a new merchant banking division.
And, at the same time, the firm says that David Goodman has taken over as president and CEO; with Ned Goodman becoming both chairman of the board, and president and CEO of the merchant banking division.
“Our strategy is to build an independent, integrated and diversified financial services firm and to recreate the environment that led to the past success at Dynamic and DundeeWealth,” noted David Goodman. “Our strategic plan will capitalize on Dundee’s core strengths in merchant banking while allowing Dundee to capture new opportunities in investment management, including ETFs and alternative investments.”