The wealth management arm of Australian banking group Macquarie has appointed its first regional manager for Eastern Canada, recruiting him from the investment business of Canadian Imperial Bank of Commerce.

Tom Williams joins Macquarie Private Wealth from CIBC Wood Gundy, where he had spent 16 years as a non-producing branch manager. Before this he was executive director and national sales manager for CIBC Asset Management and investment advisor/Greater Toronto Area regional sales manager.

The regional manager role at MPW - which is Toronto-based - was created to support the development of the Canadian business as it nears the 200-advisor mark, a spokesperson for the firm told WealthBriefing.

The Australian giant first opened the doors of its Canadian wealth management shop at the start of 2010, after having acquired Blackmont Capital from CI Financial in a deal which brought in some 125 advisors.

Last month news emerged that Macquarie Private Wealth had recruited a team of financial advisors who managed almost C$224 million (around $226 million) in assets from HSBC's Canadian brokerage business in Calgary.

These recruits were portfolio manager Nick Twyman, and investment advisor Bryn Gardener-Evans, as well as associate advisor Craig Evans and investment services associate Cheryl Cadieux. A number of other managers have made the shift from HSBC to Macquarie Private Wealth since 2010. The Canadian unit will be announcing a further wave of advisor inflows from other firms next month, according to media reports.