Canadian firm’s UK wealth arm expands its operations with the acquisition of EFG Private Bank's advisory division
Canaccord Genuity Group Inc. has expanded its international operations with the acquisition of EFG Harris Allday, a wealth management division of EFG Private Bank and a member of the EFG International group.
Through its UK and Crown Dependencies wealth management business, the deal is expected to close in the second half of 2026, subject to customary regulatory conditions.
The acquisition brings approximately £3.1 billion in client assets under management (approximately C$5.83 billion) to Canaccord Genuity's UK wealth platform, along with the front office teams and client relationships of EFG Harris Allday.
Expanding the UK footprint
The deal marks a meaningful step in Canaccord Genuity's strategy to grow its wealth management presence in the United Kingdom.
The firm, which is dual-listed on the Toronto Stock Exchange, has been building its UK and Crown Dependencies platform through a series of strategic acquisitions and organic growth.
The addition of EFG Harris Allday's Midlands-based business strengthens Canaccord's regional reach beyond London and positions it to serve a broader base of high-net-worth individuals across England.
David Esfandi, Chief Executive Officer of Canaccord Wealth (UK), said the firm was pleased to welcome the professionals from EFG Harris Allday, noting a shared commitment to delivering high-quality client service.
The UK wealth management sector has seen sustained consolidation pressure over recent years, as firms seek scale to manage rising regulatory costs, invest in digital infrastructure, and compete for adviser talent.
EFG Harris Allday, with its regional Midlands focus and long-standing client relationships, represents the kind of established boutique operation that larger platforms have been targeting.
Strategic review
EFG International, the Zurich-based private banking group that operates EFG Private Bank in the UK, has been rationalising its UK operations. The sale of the Harris Allday division to Canaccord Genuity follows a period of strategic review within the broader EFG group.
Canaccord Genuity is one of several Canadian-origin financial services firms that has built significant wealth management operations in the UK.
The group's global wealth management division, which spans Canada, the UK, Crown Dependencies, and Australia, manages tens of billions in client assets across its platforms.
The deal is subject to closing conditions and regulatory approvals, with completion anticipated before the end of 2026.
