By integrating Evelyn Partners’ £69bn in assets under management with NatWest’s existing portfolio, the combined entity will oversee total customer assets and liabilities of £188bn.

Strategically, the acquisition accelerates NatWest’s diversification efforts, increasing fee-based income by approximately 20% and expanding its presence in high-growth, capital-light sectors.

Paul Thwaite, chief executive of NatWest Group, 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.

“We look forward to welcoming our new clients and working with our colleagues at Evelyn Partners to transform the services our 20 million customers across the group can expect from us.

“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.

“This transaction creates the UK’s leading Private Banking and Wealth Management business (PBWM), delivering the scale and capabilities needed to succeed in a market with significant growth potential. It accelerates delivery of NatWest Group’s strategy and positions us to realise our longer-term ambitions.

“This represents a strategically and financially compelling use of capital, enhancing income diversification and strengthening returns in a high‑growth segment, to deliver sustainable long‑term value creation.”

Paul Geddes, chief executive of Evelyn Partners, added: “We are delighted to join NatWest Group, which marks an exciting new chapter for Evelyn Partners. We both have a long-standing history as highly regarded wealth managers with a client-centric culture.

“Together, we have the scale, resources, and shared vision to provide unparalleled service to our clients. We look forward to working together to build on our success and drive future growth.”

Evelyn Partners, which saw a 2025 EBITDA of £179 million, brings a heritage of over 180 years and a robust team of financial planners and investment managers to the group.

The financial outlook remains strong, with NatWest anticipating material shareholder value through estimated annual cost synergies of £100m. The deal is expected to be accretive to the bank’s return on tangible equity within the first year.

Alongside this expansion, NatWest has announced a £750m share buyback. The transaction is funded through existing resources and is scheduled to close in the summer of 2026, pending regulatory approval.