In a reorganization, Canadian independent holding company Dundee Corp has carved out a new merchant banking division to be led by Ned Goodman. Along with serving as chairman of the firm’s board of directors, Goodman will head up merchant banking activity and its more than $600 million of invested capital focused on resources, real estate, precious metals, oil and gas and agriculture. Dundee has its headquarters in Toronto.
Dundee Corporation Announces the Appointment of David Goodman as President and CEO, and Ned Goodman as Chairman of the Board
TORONTO, ONTARIO–(Marketwired – July 14, 2014) – Dundee Corporation (TSX:DC.A) (“Dundee” or the “Company”) is reorganizing itself into two divisions; wealth management (consisting of Goodman & Company, Investment Counsel, Dundee Capital Markets, Dundee Goodman Private Wealth and Dundee Securities) and Merchant Banking in resources, agriculture, food and real estate opportunities. David Goodman has taken over as the President and CEO of Dundee Corporation with Ned Goodman as Chairman of the Board as well as President and CEO of the company’s newly created Merchant Banking division, which currently oversees in excess of $600 million of invested capital focused on resources, real estate, precious metals, oil and gas and agriculture.
“This is the same organizational structure the Company used during the historic build out of DundeeWealth and Dynamic, prior to our sale to the Bank of Nova Scotia, and should again give us the best opportunity to continue building our Wealth Management as well as Merchant Banking activities”, stated Mr. Ned Goodman.
David Goodman stated, “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. 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. We have a great opportunity to lead the development and growth of the next stage of the Dundee business. We will work together to maintain Dundee’s strengths, its great people and core businesses, and expand into new growth areas, including new products and markets, for the long-term benefit of Dundee, our clients, and stakeholders.”
The Board would like to thank Harold (Sonny) Gordon for his service as Chairman of the Board. Mr. Gordon will continue with Dundee in the role of Vice-Chairman.
Dundee is a public Canadian independent holding company listed on the Toronto Stock Exchange under the symbol “DC.A”. Through its operating subsidiaries, including its newly created London-based Merchant Bank, Dundee is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.
President and Chief Executive Officer
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