Key facts
- Canaccord Wealth is acquiring EFG International's UK wealth management business, Harris Allday.
- Harris Allday has approximately 3.1 billion pounds in assets under management.
- The deal is expected to close in the fourth quarter.
Canaccord Wealth is set to acquire EFG International's UK wealth management arm, Harris Allday, in a move that signals continued consolidation in Britain's private client market. The acquisition will add approximately 3.1 billion pounds in assets under management to Canaccord's growing platform. EFG stated the sale aligns with its strategy to focus on its core private banking and wealth management franchise in the UK. Harris Allday, which has traditionally served affluent clients, is seen as a strategic fit for Canaccord as it expands its UK presence. The transaction is anticipated to be completed in the fourth quarter, pending necessary approvals.