NatWest acquire major wealth management firm for £2.7bn

NatWest is to make their first major acquisition since returning back to private ownership as the bank has agreed to purchase wealth management company Evelyn partners for £2.7 billion.

The acquisition will boost NatWest’s fee income by around a fifth, raising the size of the bank’s private banking and wealth management.

NatWest’s chief executive Paul Thwaite said, “Bringing together these two leading businesses creates a unique opportunity to provide financial planning, savings and investment services to more families and people across the UK.

“At a time when the benefits of saving and investing are increasingly part of the national conversation, we can help customers to make more of their money through a broader range of services, as well as helping to drive growth and investment across the economy.”