NatWest to buy wealth manager Evelyn Partners for £2.7bn

The Guardian - World NewsCenter-LeftEN 2 min read 100% complete by Alex DanielFebruary 9, 2026 at 09:33 AM

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NatWest has agreed to acquire wealth manager Evelyn Partners for £2.7 billion, marking its largest acquisition since its 2008 taxpayer bailout. The deal aims to strengthen NatWest's wealth management division, which already includes Coutts, and beat out a competing bid from Barclays. Evelyn Partners, managing approximately £69 billion in client assets across the UK and Ireland, was put up for sale by its private equity owners, Permira and Warburg Pincus. NatWest CEO Paul Thwaite, who has prioritized growth in wealth management, sees the acquisition as a chance to expand financial services to more UK families. NatWest returned to full private ownership in May 2023 after a £45 billion government bailout during the 2008 financial crisis.

Key Entities & Roles

Key Player Opposition Context

Nigel Farage 30% Royal Bank of Scotland 40% Alison Rose 40% Coutts ×240% Permira ×240% Warburg Pincus 40% Paul Geddes 40% Barclays 50% Paul Thwaite ×260% UK ×270% Evelyn Partners ×585% NatWest ×790%

Keywords

wealth management 100% natwest 90% evelyn partners 90% acquisition 80% financial planning 70% private banking 60% takeover 60% private equity 50% client assets 50% taxpayer bailout 40%