"NatWest is to make their first major acquisition since returning back to private ownership as the bank has agreed to purchase wealth management company Evelyn partners for £2.7 billion."
"The acquisition will boost NatWest's fee income by around a fifth, raising the size of the bank's private banking and wealth management."
"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. At a time when the benefits of saving and investing are increasingly part of the national conversation, we can help customers to make more of their money through a broader range of services, as well as helping to drive growth and investment across the economy."
NatWest will acquire Evelyn Partners for £2.7 billion, marking its first major purchase since returning to private ownership. The transaction will increase the size of NatWest's private banking and wealth management operations. The deal is expected to boost the bank's fee income by around one fifth. Combining the two businesses expands the bank's ability to offer financial planning, savings and investment services to more families and individuals across the UK. Broader service offerings aim to help customers make more of their money and to support growth and investment across the economy.
Read at London Business News | Londonlovesbusiness.com
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