The mystery of the missing Montreal trading desk has been solved.
GMP Securities, a unit of GMP Capital , started losing members of its Montreal sales and trading team a couple of months ago. But it wasn't clear where they were going to land. (The original story is here.)
They have turned up, with Dundee Securities hiring five former GMP employees in Montreal to bolster its desk. Along with customers in Montreal, the new hires bring Dundee tight relationships in the U.S. Getting a team from larger GMP is a nice coup for the firm.
The new Dundee hires with GMP on their resumes are:
-Marco Ottoni, who was head of trading in Montreal for GMP. He will be senior vice-president of trading in Montreal .
-Cameron Baker, a director at GMP who focused on liability and agency trading in equities, bonds and derivatives, and is known as a top warrant trader. He will also be a senior vice-president of trading for Dundee.
-Myles Wesetvik, who was a director at GMP. He will be a VP of trading at Dundee.
-Rachel Goldman, who was a director at GMP with a focus on U.S. accounts. She will be vice-president, institutional sales, for Dundee.
-Marc Lustig, who was a director of institutional equities at GMP, and helped establish GMP's presence in Europe. He will be VP, institutional sales.
Dundee also hired Sebastian Benoit, who had been with Raymond James in Montreal, as a VP of trading.
To make room, Dundee parted ways with three members of its Montreal team.