The Full Wiki

Dundee Corporation: Wikis

Advertisements

Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.

Encyclopedia

From Wikipedia, the free encyclopedia

Dundee Corporation TSXDC) is holding company based in Toronto, Canada with wealth management, real estate and resources holdings.

Dundee Corporation was founded by Canadian entrepreneur made billionaire, Ned Goodman. It has been acknowledged in company literature to have been named after the town of Dundee, in Scotland (Scottish Gaelic: Dùn Dèagh), which means "Fort on the River Tay" in Scottish Gaelic (the Tay being the longest river in Scotland. While company literature explains the origin of the company name, it is unclear why the company was named after the city of Dundee. Ned Goodman and his family are known widely as a prominent Canadian business family.

Contents

Divisions

Dundee Corporation operates three major businesses:

  • Dundee Wealth Management (56% owned subsidiary)
  • Dundee Realty (78% owned subsidiary)
  • Dundee Resources

Dundee Wealth Management

Dundee Wealth Management
Type Public company (TSXDW)
Founded 1998 (parent Dundee Corp founded 1992)
Headquarters Toronto, Ontario (Canada)
Key people Ned Goodman, Founder
Industry Financial Services
Revenue CDN $895 million (fiscal 2006), Assets = CDN $62.7 billion (April 30, 2007)
Employees 1,600+ and 1,800+ Advisors
Website www.dundeewealth.com

Dundee Wealth Management operates a number of different wholly-owned subsidiaries, shown in the sections below. Dundee Place is a 30-storey building at 1 Adelaide Street East, in the downtown Toronto financial district, and is home to Dundee Wealth Management's head office.

Dundee Wealth Management's operating subsidiaries are grouped into 3 major types of businesses:

  • Brokerage
    • Dundee Securities
    • Dundee Private Investors
    • Dundee Insurance Agency
    • Dundee Mortgage Services
  • Investment Management
Advertisements

Brokerage

Dundee's brokerage business is made up of Dundee Securities, Dundee Private Investors, Dundee Insurance Agency, and Dundee Mortgages.

These operations include a full service investment dealer engaged in wealth management & financial advisory services, retail brokerage, institutional sales & trading, equity research and investment banking, financial planning, mutual fund dealership, a full service Managing General Agency (Insurance), and Mortgage services.

Dundee Securities has over 1,800 Financial Advisors dealing with the public.

Dundee Securities operates a sell-side institutional sales and trading floor, and is one of 117 TSX Group Members / Participating Organizations, and one of 21 TSX Group Market Makers (as of April 2007).

Investment Management

Dundee's investment management business is run by Goodman & Company Investment Counsel, whose Dynamic Funds division is perhaps the more commonly known business in Dundee's investment management business.

Dynamic Funds is a mutual fund company, competing with the likes of Fidelity, AIM Trimark, AIC, CI Funds, and many others. See the mutual fund companies in Canada page for more information.

Dundee Bank of Canada

Dundee Bank of Canada is a "Schedule I" Canadian chartered bank. In September of 2007 Scotiabank, one of Canada's leading financial institutions purchased Dundee Bank for $260 million. It also purchased a further 18% interest in the parent company, DundeeWealth for $348 million. Some consider this a move by Scotiabank to carry on a full fledged taker over of DundeeWealth in times to come.

Canada's "big five" banks (Royal Bank of Canada, Scotiabank, CIBC, TD Canada Trust, Bank of Montreal) are the major Canadian chartered banks classified as "Schedule I". (See http://www.cba.ca/en/section.asp?fl=2&sl=204&tl=&docid= for more information).

Sources

http://www.dundeewealth.com/en/public/aboutDundee_89.htm http://www.dundeewealth.com/en/public/aboutDundee_90.htm http://www.dundeewealth.com/en/public/aboutDundee_91.htm http://www.cba.ca/en/section.asp?fl=2&sl=204&tl=&docid= http://www.tsx.com/en/trading/products_services/market_makers_list.html

External links


Advertisements






Got something to say? Make a comment.
Your name
Your email address
Message