EFG to sell UK wealth unit Harris Allday to Canaccord 

EFG International has reached a deal to transfer the front-end teams and client assets of Harris Allday to Canaccord Wealth. 

Financial terms of the deal remain undisclosed.  

Harris Allday sits within EFG Private Bank, the group’s UK subsidiary. 

The unit offers wealth management services mainly to affluent customers in the Midlands, operating from Birmingham as well as offices in Shrewsbury and London.  

It oversees about £3.1bn ($4.2bn) in assets, recorded £20.3m in revenue in 2025, and has 77 employees on a full-time equivalent basis. 

EFG International said the disposal should add roughly SFr20m ($25.1m) to profit before tax in the second half of 2026.  

The deal is expected to lift the group’s CET1 capital ratio by about 30 basis points. 

Completion is scheduled for the fourth quarter of 2026. 

After the transaction, EFG’s UK operation will concentrate on its wealth management and private banking activities for UK-based and international high-net-worth and ultra-high-net-worth clients. The UK business manages more than £20bn in assets. 

Founded in the West Midlands more than 175 years ago, Harris Allday was bought by EFG in 2006. The firm serves individuals, families, trusts and charities. 

Canaccord Wealth has an existing base in the Midlands, where most of Harris Allday’s clients and client-facing staff are located. 

Harris Allday managing director Edward James said: “The Harris Allday business has undergone significant transformation under EFG’s ownership and, as a market-leading wealth manager, Canaccord Wealth is the right fit, with the scale and capabilities, to support the business, our colleagues and clients going forward. Canaccord Wealth shares Harris Allday’s values, including its belief in creating and maintaining close, enduring relationships with clients.” 

EFG International reported revenue-generating assets under management (AUM) of SFr196.3bn at the end of June 2026, representing a 21% increase from a year earlier.   

Net profit for the first half (H1) of 2026 was SFr184.6m, up 5% from H1 2025, excluding exceptional items recorded in 2025.