NatWest Agrees to Buy Wealth Manager Evelyn Partners for $3.7 Billion
By Elena Vardon
U.K. lender NatWest is set to buy wealth manager Evelyn Partners for 2.7 billion pounds ($3.67 billion) to boost its savings and investment offerings.
The bank reached an agreement with funds advised by private equity firms Permira and Warburg Pincus to take over Evelyn Partners and combine with its existing private banking and wealth management business once the deal closes this summer.
The transaction will diversify NatWest's revenues by boosting its fee income by around 20% before synergies and increase the bank's exposure to a high-growth and capital-light segment, it said.
The acquisition of Evelyn Partners, which oversees 69 billion pounds in client assets, will more than double NatWest's assets under management and administration to 127 billion pounds, it said. The wealth manager made 179 million pounds in earnings before interest, taxes, depreciation and amortization in 2025.
The group also announced a 750 million pound share buyback program.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
February 09, 2026 02:39 ET (07:39 GMT)
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