Barclays Explores Acquisition of British Wealth Manager Evelyn Partners
Written by Emily J. Thompson, Senior Investment Analyst
Barclays (BCS) is exploring a potential acquisition of British wealth manager Evelyn Partners and is expected to place a bid next week, three people familiar with the matter told Reuters, reports Amy-Jo Crowley and Charlie Conchie. Evelyn's shareholders Permira and Warburg Pincus have asked prospective buyers to submit non-binding offers on December 10, two sources told Reuters. A sale could value Evelyn at more than $3.3B, the news agency reported in July. NatWest (NWG), Lloyds Banking (LYG) and Royal Bank of Canada (RY) are also weighing bids for Evelyn, sources told Reuters.
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About BCS
Barclays PLC is a diversified bank with five divisions comprising Barclays UK, Barclays UK Corporate Bank, Barclays Private Bank and Wealth Management, Barclays Investment Bank and Barclays US Consumer Bank. The Barclays UK division represents businesses that sit within the United Kingdom ring-fenced bank, Barclays Bank UK PLC and its subsidiaries, and comprises Personal Banking, UK Business Banking and Barclaycard Consumer UK. The Barclays UK Corporate Bank division offers lending, trade and working capital, liquidity, payments, and FX solutions for corporate clients. Barclays Private Bank and Wealth Management division comprises the Private Bank, Wealth Management, and Investments businesses. Barclays Investment Bank division incorporates the Global Markets, Investment Banking, and International Corporate Banking businesses. Barclays US Consumer Bank division represents the United States credit card business, focused on the partnership market, as well as an online deposit franchise.
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.
