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NatWest set to clinch £2.5bn takeover of wealth manager Evelyn
The £2.7bn acquisition adds Evelyn Partners' £65bn assets under management, boosting NatWest's total to over £125bn and enhancing income diversification and growth potential.
- On 2026-02-09, NatWest announced it will acquire Evelyn Partners, creating the UK’s leading private banking and wealth management business, alongside a £750 million share buyback.
- Following its full return to private ownership in May last year, NatWest said the deal boosts growth and return on tangible equity from year one, building on 2024 purchases of Sainsbury’s Bank retail business and Metro Bank prime residential mortgage portfolio.
- Evelyn Partners, formed in 2020 from Smith & Williamson and Tilney, employs around 2,400 people and Paul Thwaite said it creates a unique opportunity to expand financial services.
- Market reaction followed news that the deal is the bank’s largest since its £45.5bn bailout, with NatWest shares down nearly 5% around 10.10am.
- The bank said the deal accelerates its strategy, representing a strategically compelling use of capital that enhances income diversification and strengthens returns in a high-growth segment.
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Total News Sources37
Leaning Left3Leaning Right1Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 27%
C 64%
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