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Broker Echelon hires head investment banker

Echelon was founded in 2010 and acquired a team of 72 investment advisers from Dundee in April, 2016, for $13.5-million, a transaction that gave the firm significant heft. Echelon has approximately 90 advisers and portfolio managers with approximately $4-billion in assets.

Shannon Stapleton/Reuters

Upstart retail brokerage firm Echelon Wealth Partners Inc. landed veteran deal maker David Anderson Thursday as head of investment banking, the latest in a series of hires from Dundee Securities Ltd.

Mr. Anderson was most recently vice-chairman of Dundee, where he spent 18 years, and the 63-year-old has a long track record in corporate finance and M&A, with a focus on the mining sector. He leads an 11-person team that covers mining, healthcare, technology, telecom and real estate.

Echelon was founded in 2010 and acquired a team of 72 investment advisers from Dundee in April, 2016, for $13.5-million, a transaction that gave the firm significant heft. Echelon has approximately 90 advisers and portfolio managers with approximately $4-billion in assets.

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In August, Echelon raised $27-million to fund growth by selling a 60-per-cent stake in the company to Toronto-based Peerage Capital Canada Ltd., which was founded by entrepreneur Miles Nadal.

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Business Columnist

Andrew Willis is a business columnist for the Report on Business at The Globe and Mail, based in Toronto.He has been in business communications and journalism for three decades. More

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