The Globe and Mail reports in its Tuesday edition that Dundee Capital Markets has hired a trio of senior analysts in an attempt to bolster its research department ahead of a planned spin out from parent company Dundee Corp. ($6.23). The Globe's Niall McGee writes that former long-serving Canaccord Genuity Group ($4.12) analyst Phil Skolnick is among those joining the firm. Most recently, Mr. Skolnick has been with Chicago-based hedge fund Citadel LLC. He parted ways with Citadel in February.
Previously, he worked at Canaccord for 15 years, where he was head of North American research.
Dundee equity head David Morrison wrote, "Phil's relationships are extensive on both sides of the street and the border, especially in the hedge fund community."
Dundee has also hired former Merrill Lynch Canada research analyst Steve Theriault, who left the United States brokerage in March after it downsized its operations in Canada. Tal Woolley also joined Dundee as a consumer products analyst. He was previously with CIBC World Markets, where he covered consumer products, media and telecom.
Dundee Capital Markets is in the midst of a management buyout that will result in it being spun out of publicly traded Dundee Corp.
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