EFG International has agreed to sell its Harris Allday business to Canaccord Wealth, the Swiss private bank announced on Wednesday. The deal covers the transfer of Harris Allday’s Frontoffice teams and client assets to Canaccord Wealth, though financial terms were not disclosed.
The transaction is expected to close in the fourth quarter of 2026. EFG anticipates the sale will add approximately CHF 20 million to its pre-tax profit in the second half of the year and raise its Common Equity Tier 1 (CET1) ratio by around 30 basis points.
The move aligns with EFG’s strategic shift to focus on core wealth management and private banking operations in the UK, targeting high-net-worth and ultra-high-net-worth clients. Harris Allday’s operations will be integrated into Canaccord Wealth’s existing platform, pending regulatory approvals and customary closing conditions.
