NatWest in Exclusive Talks to Sell 85% Stake in Cushon Valued Over £150 Million
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
- Equity Sale Negotiations: NatWest is in exclusive talks with U.S. insurance broker Willis Towers Watson to sell its 85% stake in Cushon, which could be valued at over £150 million if the deal proceeds, indicating ongoing market interest in fintech companies.
- Asset Management Scale: Cushon currently manages approximately £3 billion in assets and provides workplace pensions and savings products to over 650,000 members, and the transaction would help NatWest expand its financial product offerings and attract a younger customer base.
- Strategic Shift: This potential sale reflects NatWest's focus under CEO Paul Thwaite on simplifying its banking operations and supporting economic growth through mortgage and business lending, signaling a renewed emphasis on core business areas.
- Intensifying Market Competition: Over the past few years, NatWest has acquired several smaller fintech firms to enhance its competitiveness, and this potential transaction would further solidify its position in the rapidly evolving digital finance market, particularly against more agile digital rivals.
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Analyst Views on NWG
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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Willis Towers Watson Reveals Deal to Purchase Cushon from NatWest
Acquisition Announcement: Willis Towers Watson (WTW) has announced the acquisition of the workplace retirement schemes platform Cushon from NatWest (NWG), with the deal expected to close in the first half of 2026.
Financial Details: The financial terms of the acquisition have not been disclosed, although WTW was in advanced talks regarding the deal at the end of November.
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