EFG International to sell Harris Allday to Canaccord Wealth

EFG International has signed an agreement to sell Harris Allday to Canaccord Wealth. Under the terms of the deal, Canaccord Wealth will acquire the front-office teams and client assets of the business, which manages approximately £3.1 billion in assets.

The transaction is expected to close in the fourth quarter of 2026. EFG anticipates the sale will provide a positive impact of roughly 20 million Swiss francs on its pre-tax profit during the second half of 2026 and increase its CET1 capital ratio by approximately 30 basis points.

This move is part of a strategic effort by the Zurich-based private bank to sharpen its focus in the United Kingdom on core wealth management and private banking services for high-net-worth and ultra-high-net-worth clients. Analysts describe the sale as a “classic portfolio cleanup” rather than a withdrawal from the UK market, noting that the UK business remains a key pillar for EFG with over £20 billion in assets under management.