The merger creates a powerhouse with a combined £127 billion in assets under management and administration. NatWest projects the deal will boost fee income by 20 percent, positioning the bank to better serve its 20 million customers through expanded financial planning capabilities and the inclusion of the Bestinvest platform. CEO Paul Thwaite described the transaction as a vital step in scaling the group's advisory services at a time when personal investment has become a national priority.
NatWest Finalizes £2.7 Billion Acquisition of Evelyn Partners
NatWest Group has officially completed its £2.7 billion acquisition of Evelyn Partners, a move that reshapes the landscape of the UK wealth management sector. By integrating Evelyn’s £69 billion in assets under management with its own, the bank aims to capture a larger share of the country’s growing investment market.
Operational transition follows the deal’s closure, with Chris Kenny assuming the role of chief executive at Evelyn Partners, reporting directly to NatWest’s head of private banking, Emma Crystal. The bank expects to achieve £100 million in annual run-rate cost synergies while noting an anticipated 130 basis point reduction in its Common Equity Tier 1 ratio. This acquisition underscores a broader trend of consolidation within the UK financial industry, following similar high-profile moves by firms such as Nuveen and Schroders.
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