NatWest completes £2.7bn acquisition of Evelyn Partners

NatWest Group has announced the completion of its acquisition of Evelyn Partners for £2.7bn.

It stated that the deal, which was agreed in February, created the UK’s "leading private banking and wealth management business", with NatWest Group consolidating Evelyn Partners.

As at the end of 2025, Evelyn Partners had assets under management and administration (AUMA) of £69bn.

Alongside NatWest Group’s £59bn AUMA at that date, the combined firm would have total AUMA of £127bn, and total customer assets and liabilities of £188bn.

NatWest Group said the acquisition transformed its financial planning and investment management capabilities, and accelerated its strategy, increasing fee income by around 20 per cent pre-revenue synergies and boosting exposure to the UK wealth market.

The bank expected to deliver “significant” revenue synergies by combining Evelyn Partners' financial planning and investment management capabilities, including the Bestinvest platform, with NatWest Group's banking, savings and wealth management services.

Following the completion of the deal, Evelyn Partners chief executive officer, Paul Geddes, and chief financial officer, Alex Gersh, have stepped down from their roles.

Evelyn Partners chief investment management officer, Chris Kenny, has become chief executive officer, while its deputy chief financial officer, Din Mustaffa, has become chief financial officer.

NatWest Group CEO, Paul Thwaite, said the deal marked an important step as the firm brought together two businesses and accelerated the delivery of its strategy.

“This is a unique opportunity for the group, delivering unmatched scale and capabilities in a market with considerable growth potential,” he continued.

“Our new colleagues at Evelyn Partners bring with them long-standing, trusted client relationships and industry-leading expertise in financial planning and investment management.

"Together, we are now the UK's leading private banking and wealth management business. As a result, we will offer a broader range of products, services and advice to over 20 million customers, helping them to make more of their money and invest with confidence.

“This will help us drive further growth and investment across the economy, as well as delivering higher returns to shareholders."

Evelyn Partners CEO, Chris Kenny, added: “Becoming part of NatWest Group strengthens our ability to support them over the long term, while preserving the personal relationships, trusted advice and investment expertise that they value from Evelyn Partners.

“This is an exciting opportunity for our people to build on what we do best, combining our strengths with those of our new colleagues at NatWest Group to deliver even greater value for clients, both now and in the years ahead."

NatWest Group CEO of private banking & wealth management, Emma Crystal, said the combined business would bring complementary capabilities and scale to the service offered to clients.

“We look forward to working alongside our new colleagues, putting financial planning and investment management in the hands of more people, right across the UK, whether they are experienced investors or taking their first steps to build their financial futures,” she concluded.

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