EFG International announces sale of Harris Allday

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EFG International announces sale of Harris Allday

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EFG International announces sale of Harris Allday

EFG International has signed an agreement for Canaccord Wealth to acquire the front office teams and client assets of the Harris Allday business.

Harris Allday is part of EFG Private Bank Ltd., EFG International’s UK subsidiary. The business is focused on providing wealth management services, primarily to affluent clients, in the Midlands region of the UK from its main office in Birmingham, and its locations in Shrewsbury and London. Its Assets under Management total approximately GBP 3.1 billion and it generated annual revenue of GBP 20.3 million in 2025 and currently has 77 employees (full-time equivalent).

EFG International expects the sale to have a positive impact of approximately CHF 20 million on its profit before tax in the second half of 2026 and expects it to increase the Group’s CET1 capital ratio by approximately 30 basis points.

The transaction is expected to close in the fourth quarter of 2026.

EFG International’s UK Region will focus on its core business in Wealth Management and Private Banking serving UK-based and international high-net-worth and ultra-high-net-worth clients. With over GBP 20 billion in Assets under Management, the UK business remains a key pillar of EFG’s strategy.

Edward James, Harris Allday’s Managing Director, 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.”

Harris Allday was founded in the West Midlands, and with a history spanning over 175 years, remains there to this day. It was acquired by EFG in 2006. The business provides tailored investment solutions to individuals, families, trusts and charities with a local focus and has built an outstanding and loyal client base.

Canaccord Wealth has a strong and established footprint in the Midlands, where the majority of Harris Allday’s clients and client-facing teams are based. In combination with its capacity for growth and its deep understanding of clients, investment management and financial planning, Canaccord Wealth is well-positioned to continue providing clients with a comprehensive service and wealth management expertise.

Deloitte is acting as exclusive financial advisor in this transaction.

Important disclaimer

This document has been prepared by EFG International AG (“EFG”) solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding EFG.

This release contains specific forward-looking statements that reflect EFG’s intentions, beliefs or current expectations and projections about EFG’s future results of operations, financial condition, liquidity, performance, prospects, strategies, opportunities and the industries in which it operates. Forward-looking statements involve all matters that are not historical facts. EFG has tried to identify those forward-looking statements by using the words “may”, “will”, “would”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “believe”, “seek”, “plan”, “predict”, “continue” and similar expressions. Such statements are made on the basis of assumptions and expectations which, although EFG believes them to be reasonable at this time, may prove to be erroneous.

These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause EFG’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, legislative, fiscal and regulatory developments, general economic conditions in Switzerland, the European Union and elsewhere, and EFG’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. EFG and its subsidiaries, and their directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this media release and any change in EFG’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable law or regulation.