Overview
- Sky News reports NatWest is close to acquiring Evelyn Partners after outbidding Barclays, with Royal Bank of Canada previously linked to the process.
- Sources indicate a prospective price between £2.5bn and £3bn for the wealth manager.
- An announcement could come early next week, though the parties have not commented publicly.
- Evelyn oversees about £65bn in client assets and is owned by Permira and Warburg Pincus, with Evercore running the auction.
- A deal would be NatWest's biggest takeover since its 2008 bailout and would align with CEO Paul Thwaite's focus on Coutts and affluent clients.