EFG International has recruited Glen Brown to be chief executive of EFG Wealth Management Canada. He will report to Steve Mackey, now the chairman of EFG Wealth Management Canada and the executive with overall responsibility for EFG International’s operations in Canada and the Caribbean.

Mr Brown was formerly at CIBC, where he spent over 15 years in a number of senior positions both in Canada and internationally. Most recently he was general manager of CIBC Trust Company in the Bahamas.

EFG Canada is now operational in Montreal. There is an initial team of two client relationship officers, recruited from a major Canadian bank and leading local investment counsellor respectively.

This builds on existing offices in Toronto and Vancouver, where in both locations EFG Canada is expanding by hiring experienced CROs. They have joined EFG from leading organisations including RBC, CIBC, Coutts, and HSBC. In Vancouver, for instance, which has been operational for less than six months, there are now eight CROs. The plan is to continue to recruit CROs nationally, and to add representation in Ottawa and the province of Alberta.

The firm has set up a mutual fund company, and has submitted an application to establish a federally chartered deposit-taking trust company.

Steve Mackey, Chairman of EFG Wealth Management Canada said: “EFG International has been operational in Canada for just over a year, starting with the acquisition of Bull Wealth Management which completed last October. We have accomplished a lot, we have strong momentum, and I am optimistic for the future.”