A Bay street sign is seen in the financial district.Mark Blinch/The Globe and Mail
Evidently there's something about Desjardins Securities that tickles the fancy of the sales and trading staff at Dundee Capital Markets.
Myles Wesetvik is the latest in a long line of ex-Dundee staffers to jump to the brokerage arm of Desjardins Group.
Mr. Wesetvik, who previously worked out of Dundee's Montreal office, is joining Desjardins as co-head of institutional equity trading on July 11. He had been with Dundee since 2012, and had previously spent more than a decade at GMP Capital.
"Myles has held senior trading positions at two of Canada's leading independent brokerage houses over the past 18 years and he brings strong U.S. and Canadian client relationships to our platform," Mark Lucey, head of equities at Desjardins, wrote in a memo to staff on Wednesday.
Mr. Wesetvik is at least the sixth member of Dundee's sales and trading team to land at Desjardins in the last 18 months.
In March, Jean-Francois Lemonde, a former Montreal-based institutional salesman with Dundee, moved to Desjardins.
Senior institutional salesperson Rachel Goldman, who parted ways with Dundee last year, joined the firm in January.
That same month, Pierre Lévesque, also in institutional sales, jumped from Dundee to Desjardins.
In mid-2015, Toronto-based, Dundee institutional trader Adam Deffett came over to the brokerage.
Drew Smith, a trader who parted ways with Dundee in late 2014, resurfaced at Desjardins in early 2015.
Dundee Capital Markets is in the process of being spun out from Dundee Corp., its parent company, in a management takeover. The transaction, which was first reported by The Globe earlier this year, is expected to be completed by the end of 2016.
The brokerage has announced a number of new hires of its own in the past few months, including nabbing Phil Skolnick, a top-ranked Canaccord Genuity Group analyst until 2014, who had spent the past few years on the buy side with a U.S. hedge fund company.
Niall McGee