At the end of 2025, Evelyn Partners had £69bn of Assets Under Management and Administration which, combined with NatWest Group’s £59bn at that date, would have brought total AUMA to £127bn and total Customer Assets and Liabilities (CAL) to £188bn, or c.20% of Group CAL.

The acquisition transforms NatWest Group’s financial planning and investment management capabilities and accelerates the Group’s strategy, increasing fee income by c.20% pre-revenue synergies, and boosting exposure to the structurally higher growth UK wealth market, driving higher returns.

Paul Thwaite, NatWest Group CEO, said: “Today marks an important step as we bring together two leading businesses and accelerate the delivery of our strategy, at a time when the benefits of saving and investing are increasingly part of the national conversation.

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

Chris Kenny, CEO of Evelyn Partners, commented: “I am delighted that we have reached this significant milestone for Evelyn Partners and, most importantly, for our clients. 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.”

Emma Crystal, CEO of Private Banking & Wealth Management at NatWest Group, added: “This is a pivotal moment for our combined business, bringing complementary capabilities and scale to the expertise and service that we offer our 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.”

NatWest Group expects the combination to create material shareholder value, including estimated annual run-rate cost synergies of approximately £100 million, with costs to achieve of approximately £150m. 

The Group also expects 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. The transaction is expected to be accretive to NatWest Group’s growth and Return on Tangible Equity in the first year of ownership.

As the integration progresses, the Group is committed to ensuring a seamless experience for customers and clients of the combined business, enabling access to a wider range of products, services and channels. There are no immediate changes to the service customers and clients receive, and no action is required. We look forward to engaging further as the integration progresses.