NatWest Group acquires Evelyn Partners for £2.7 billion

Written by Emily J. Thompson, Senior Investment Analyst

Source: seekingalpha

Updated: Feb 09 2026

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Source: seekingalpha

NatWest Group's stock fell 7.56% as it crossed below the 20-day SMA amid broader market gains in the Nasdaq-100 and S&P 500.

The decline follows NatWest's announcement of acquiring Evelyn Partners for £2.7 billion, which is expected to enhance fee income by 20% pre-revenue synergies. Additionally, a £750 million share buyback was announced to boost shareholder value and market confidence. The acquisition is projected to create significant shareholder value by combining assets under management with Evelyn Partners, which generated a full-year EBITDA of £179 million for 2025.

This acquisition aligns with NatWest's strategy to strengthen its market position in asset management, but the stock's decline suggests investor caution despite the positive outlook from the acquisition and buyback announcement.

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About NWG

NatWest Group plc is a United Kingdom-based banking company. The Company serves customers in England and Wales, supporting them with their personal, private, and business banking needs. It also offers businesses specialist sector knowledge in areas such as sustainable energy, commercial property and technology, as well as access to specialist entrepreneurial support. Its segments include Retail Banking, Private Banking, Commercial & Institutional, and Central items & other. The Retail Banking segment serves personal customers in the United Kingdom, including Ulster Bank customers in Northern Ireland. The Private Banking segment serves United Kingdom-connected high-net-worth individuals and their business interests. The Commercial & Institutional segment consists of customer businesses reported under business banking, commercial mid-market and corporate & institutions, supporting its customers across the full non-personal customer lifecycle, both domestically and internationally.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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Acquisition Overview: NatWest Group disclosed the acquisition of Evelyn Partners for £2.7 billion (approximately $3.7 billion), aiming to strengthen its position in the wealth management sector and create the U.K.'s leading Private Banking and Wealth Management business to enhance services for its 20 million customers.
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