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Finance

NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports

Published by Global Banking & Finance Review

Posted on February 7, 2026

1 min read

· Last updated: February 7, 2026

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NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports

Wealth Management acquisition financial services investment

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Feb 7 (Reuters) - British bank NatWest Group is closing in on a 2.5 billion pound ($3.4 billion) takeover of one of Britain's largest wealth managers, Evelyn Partners, Sky News reported on Saturday,

NatWest Nears $3.4 Billion Acquisition of Wealth Manager Evelyn

NatWest's Acquisition of Evelyn Partners

Feb 7 (Reuters) - British bank NatWest Group is closing in on a 2.5 billion pound ($3.4 billion) takeover of one of Britain's largest wealth managers, Evelyn Partners, Sky News reported on Saturday, citing sources.

Details of the Deal

Reuters could not immediately verify the report.

Competition from Barclays

NatWest faced competition from rival bank Barclays as both bidders submitted offers for Evelyn last week, Sky News reported on Wednesday.

Expected Announcement Timeline

NatWest was expected to pay between 2.5-3 billion pounds to buy Evelyn, the report said, adding that an announcement confirming the deal could come in the early part of next week.

($1 = 0.7348 pounds)

(Reporting by Rhea Rose Abraham in Bengaluru; Editing by Toby Chopra)

Key Takeaways

NatWest is nearing a $3.4 billion acquisition of Evelyn Partners.
The deal positions NatWest as a leader in wealth management.
Barclays was a competing bidder for Evelyn.
The acquisition announcement is expected next week.
The deal is valued between 2.5-3 billion pounds.

Frequently Asked Questions

What is wealth management?

Wealth management is a financial advisory service that combines investment management, financial planning, and other financial services to meet the needs of high-net-worth individuals.

What is an acquisition?

An acquisition occurs when one company purchases most or all of another company's shares to gain control of that company.

What are financial services?

Financial services encompass a wide range of services provided by the finance industry, including banking, investment, insurance, and asset management.

What is investment?

Investment refers to the allocation of resources, usually money, in order to generate income or profit over time.

What is a bank's acquisition strategy?

A bank's acquisition strategy involves identifying and purchasing other financial institutions or assets to enhance its market position and expand its services.

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NatWest closes in on $3.4 billion takeover of wealth manager Evelyn, Sky News reports

NatWest Nears $3.4 Billion Acquisition of Wealth Manager Evelyn