Joanne Ferstman, former chief executive officer of Dundee Capital Markets, has left the firm.
Before departing, Ms. Ferstman was an integral part of the Dundee family of companies. Prior to being CEO of the capital markets division, she had been chief financial officer of DundeeWealth as well as CFO of Dundee Corp.
Within the Dundee family, Ms. Ferstman was credited with knowing the operations inside and out, having played a crucial role in selling Dundee Bank to Bank of Nova Scotia during the asset-backed commercial paper crisis, and for helping to fend off Bill Holland’s hostile takeover bid for DundeeWealth. She also played a key role in downsizing the asset management firm during recession.
Of late, however, there was chatter that her role had less importance because Ned Goodman is interested in running the capital markets division that he recently privatized. According to sources, Mr. Goodman is still in the office everyday.