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View the article online at http://citywire.co.uk/wealth-manager/article/a743140

Esfandi appointed Canaccord CEO as Darke departs

on Mar 26, 2014 at 17:28

Esfandi appointed Canaccord CEO as Darke departs

Neil Darke has left Canaccord Genuity Wealth Management (CGWM) and will be replaced by ex-Ashcourt Rowan managing director David Esfandi.

Subject to the required regulatory approval, Stephen Massey will assume the role of chairman of the firm's board in the UK.

Darke, who is a former Wealth Manager cover star, had been at the helm of CGWM for seven years.

CGWM, formerly known as Collins Stewart Wealth Management, was rebranded in Spring 2013.

The rebrand topped five years of significant change at the wealth manager. Under Darke, CGWM had completed a string of acquisitions, with Eden Financial in October 2012, and moved into financial planning through its purchase of Anderson Charnley back in 2010.

One of the most striking changes under Darke’s six-year tenure at the helm of the business had been a shift in focus from the Channel Islands to the UK mainland.

Darke's departure is effective immediately.

'We are pleased to welcome someone of David’s high caliber to lead our growth efforts. Under his 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,' said Paul Reynolds, president and CEO of Canaccord Genuity Group.

At Ashcourt Rowan, Esfandi was a senior leader in the firm's asset management business. Prior to that, he was with Deutsche Bank for 9 years in a variety of roles and began his career at Goldman Sachs on the equities side.

Massey, who founded Eden Financial, joined Canaccord Genuity when it acquired Eden FInancial's wealth management business in October 2012.

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