NatWest Group to Buy Evelyn Partners for £2.7B, Targets UK’s Top Private Bank and Wealth Manager

3 weeks ago 9

MarketBeat

Mon, February 9, 2026 astatine 8:07 AM CST 5 min read

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NatWest volition get Evelyn Partners for GBP 2.7 cardinal successful cash to physique what it calls the U.K.’s starring backstage slope and wealthiness manager, combining Evelyn’s direct-to-consumer Bestinvest, 21 determination offices and 270 fiscal planners with NatWest to make GBP 127 billion of combined AUMA.
Evelyn reported beardown 2025 results—income GBP 509m, EBITDA GBP 179m (35% margin) and GBP 1.6bn nett caller inflows—and NatWest expects the woody to boost interest income by astir 20% pre-synergies and beryllium accretive to instrumentality connected tangible equity successful twelvemonth one.
NatWest expects astir GBP 100m of outgo synergies (with GBP 150m implementation costs implicit 3 years), a ~130bps simplification to CET1 capital, completion successful the summer taxable to approvals, and announced a GBP 750m stock buyback portion keeping a ~50% dividend payout ratio.
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NatWest Group (NYSE:NWG) executives outlined their planned acquisition of Evelyn Partners during a league telephone held connected abbreviated announcement pursuing the woody announcement, describing the transaction arsenic a strategical determination to make what they called the U.K.’s starring backstage slope and wealthiness manager.

NatWest said it volition get Evelyn Partners for GBP 2.7 cardinal successful cash. Management described Evelyn Partners arsenic a market-leading fiscal readying and concern absorption steadfast with a 180-year heritage, a “high-quality, loyal” lawsuit base, and what NatWest characterized arsenic a beardown taste fit.

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Executives said the operation is intended to accelerate NatWest’s strategy by expanding vulnerability to wealthiness management, which they described arsenic supported by demographic, regulatory, and exertion trends. Evelyn brings a regional web of 21 offices, employing 270 fiscal planners and 325 specializer concern managers, arsenic good arsenic the direct-to-consumer level Bestinvest.

NatWest highlighted Evelyn Partners’ 2025 performance, including income of GBP 509 million and EBITDA of GBP 179 million, representing a 35% margin. The institution besides reported net caller inflows of GBP 1.6 billion successful 2025. Executives said they spot beardown prospects for aboriginal maturation and referenced a 7% CAGR successful AUM historically erstwhile responding to expert questions.

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On scale, NatWest said Evelyn’s GBP 69 billion successful assets nether absorption and medication (AUMA), combined with NatWest’s GBP 59 billion, would make GBP 127 billion successful full AUMA. NatWest besides said full lawsuit assets and liabilities for the combined concern would beryllium GBP 188 billion, which absorption said amounts to astir 20% of the group’s full lawsuit assets and liabilities.