NatWest, which operates branches in Birmingham, has confirmed the completion of its acquisition of Evelyn Partners for an enterprise value of £2.7 billion. The deal, finalized last week, creates the UK's largest private banking and wealth management business.
Combined Assets and Market Position
At the end of 2025, Evelyn Partners held £69 billion in Assets Under Management and Administration (AUMA). Combined with NatWest Group's £59 billion, the total AUMA reaches £127 billion. Total Customer Assets and Liabilities (CAL) stand at £188 billion, representing approximately 20% of the Group's CAL.
CEO Statements on the Acquisition
NatWest Group CEO Paul Thwaite commented: “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.”
Thwaite added: “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.”
Evelyn Partners CEO Reaction
Chris Kenny, CEO of Evelyn Partners, said: “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.”
Leadership and Integration
Emma Crystal, CEO of Private Banking & Wealth Management at NatWest Group, described the acquisition as “a pivotal moment for our combined business, bringing complementary capabilities and scale to the expertise and service that we offer our clients.” She added: “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.”
Following completion, the current Evelyn Partners non-executive directors have stepped down from the EPGL Board. They have been succeeded by the current Chair and Board Committee Chairs of Coutts & Co, who have assumed equivalent responsibilities across both Coutts and Evelyn Partners as of 1 July 2026.
