U.K.-headquartered banking business NatWest Group plc (NWG) on Monday announced that it has reached an agreement to acquire Evelyn Partners for an enterprise value of 2.7 billion pounds. NatWest Group has also announced a share buyback of 750 million pounds.
Evelyn Partners, a U.K.-based wealth manager with more than 180 years of heritage oversees 69 billion pounds of Assets Under Management and Administration. The business is run under the stewardship of Permira, investors in the business since 2014, and Warburg Pincus, a minority investor since 2020.
The transaction would be funded from existing resources and is expected to reduce NatWest Group's CET1 ratio by approx. 130 basis points.
The transaction is expected to close in the summer of 2026.
The combined business is expected to result in total AUMA of 127 billion pounds and total Customer Assets and Liabilities of 188 billion pounds.
The transaction is expected to add to NatWest Group's growth and its Return on Tangible Equity in the first year of ownership and to deliver returns greater than generated through a share buyback. Following the 750-million-pound share buyback announcement, NatWest Group expects its next share buyback announcement to be at its first-half 2027 results.
The ordinary dividend payout ratio of around 50 percent of attributable profits remains unchanged.
Ardea Partners International LLP and BofA Securities served as joint lead financial advisers to NatWest. UBS also acted as a financial adviser to NatWest.
For comments and feedback contact: editorial@rttnews.com
Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.