Canaccord Genuity Group has named David Esfandi as new CEO of Canaccord Genuity Wealth in the UK, replacing Neil Darke.

Additionally, Canaccord Genuity head of UK wealth management Stephen Massey has been named chairman of the Canaccord Genuity Wealth board in the UK.

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Esfandi has joined Canaccord Genuity Wealth from Ashcourt Rowan, where he most recently served as a senior leader in the asset management business.

Prior to this, he worked with Deutsche Bank for nine years in several roles and started his career at Goldman Sachs on the equities side.

Prior to joining Canaccord Genuity, Massey has served as principal and founder of Eden Financial, which was later acquired by Canaccord in October 2012.

Paul Reynolds, president and CEO of Canaccord Genuity Group, said: "Under David’s leadership, we will continue our focus on enhancing our position to be a prominent wealth management firm in both the UK and the Channel Islands. We will continue to rely on Stephen’s wealth of experience in working with David to help propel this business in the coming years."

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