Published: February 9, 2026 at 7:58 am
NatWest Group has sealed a £2.7 billion swoop for wealth management firm Evelyn Partners.
It sees an exit for British private equity giant Permira and US peer Warburg Pincus.
Evelyn Partners – formed from the merger of Tilney and Smith & Williamson – has grown from £5bn to £69bn in client assets since 2014, when Permira first invested. Warburg Pincus invested in 2020.
NatWest said the transaction creates the UK’s leading private banking and wealth management business and will transform its savings and investment offering for its 20 million customers.
NatWest is also announcing a share buyback of £750m to return capital to shareholders.