Banking firm Evelyn Partners eyeing NatWest and RBC as possible purchasers, according to recent reports
In the world of wealth management, the upcoming sale of Evelyn Partners is generating significant buzz. The private equity owners, Permira and Warburg Pincus, are spearheading the sale process, with Evercore managing the auction.
The potential bidders for Evelyn Partners include banking institutions such as NatWest and Royal Bank of Canada, private equity firms, and US wealth managers with an interest in the UK market, like Raymond James.
NatWest, which recently transitioned back to private ownership, is strategically seeking to grow its wealth management division. This ambition aligns with its aim to expand its financial advisory services, including enhancing the high-profile Coutts bank. NatWest’s CEO, Paul Thwaite, has emphasized that any acquisition must meet strict financial and operational criteria, indicating a cautious and selective growth approach aimed at consolidating and expanding market share in UK wealth management.
Royal Bank of Canada (RBC) has demonstrated a strategy of expanding its wealth management footprint in the UK. This was evident in its acquisition of Brewin Dolphin for £1.6 billion in 2022. RBC is expected to continue pursuing acquisitions to increase its presence and scale within the UK market, leveraging Evelyn Partners' significant assets under management (£63 billion as of end 2024) and client base to strengthen its cross-border wealth management services.
Other private equity firms and US wealth managers may look to acquire Evelyn Partners to capitalize on the robust UK wealth management sector growth. They may adopt a strategy focusing on scaling operations through consolidation, digitization (leveraging platforms like Bestinvest), and expanding service offerings.
The key strategic drivers for bidders include leveraging Evelyn Partners’ scale, integrating its offerings with existing wealth management businesses, and enhancing digital and advisory capabilities to meet growing client demands in a competitive market environment.
Evelyn Partners aims to capitalize on the increasing appetite among banks to augment their financial advisory services. The company is preparing for a sale that could value it at approximately £2.5bn and is expected to conclude by early 2026.
However, it's important to note that neither NatWest, Royal Bank of Canada, Evelyn Partners, Permira, Warburg Pincus, nor Raymond James have provided official statements regarding the sale.
As the sale process unfolds, it will be interesting to see which bidders emerge victorious and how this acquisition shapes the UK wealth management landscape.
Sources:
- Financial Times
- City A.M.
- The Sunday Times
- The Telegraph
- Bloomberg
Read also:
- Developing a Sales Strategy: Methods, Sample Plans, and Templates for Sales Plans
- Events that transpired on the night of August 13, 2025.
- Manchester-based entrepreneur Amman Ahmed propelled an unusual venture to an 8-digit empire, without external financing. This is the story of how he crafted a groundbreaking genre in the world of animal-oriented media, one growl and rhythm at a time.
- Cooking Quantity of Beef Corresponds to Citizens' Salaries - Analysts Disclose
