NatWest Group has agreed to acquire wealth manager Evelyn Partners in a deal valued at £2.7billion, as it moves to create what it described as the UK’s leading Private Banking and Wealth Management business.
The bank said the acquisition will strengthen its savings and investment offer for its 20 million customers, while significantly increasing fee income and exposure to a “high growth, capital light” segment.
Evelyn Partners has an established presence in Aberdeen, with an office located in The Capitol on Union Street.
Alongside the acquisition announcement, NatWest also revealed a £750million share buyback, continuing its programme of returning capital to shareholders.
NatWest said the transaction is expected to close in summer 2026, subject to regulatory approvals.
Paul Thwaite, chief executive of NatWest Group, said the deal would expand access to financial planning, savings and investment services across the UK.
He 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.”
Evelyn Partners oversees £69billion of assets under management and administration (AUMA) and generated £179million EBITDA in 2025.
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