Wealth management group Evelyn Partners is exploring a potential sale with NatWest and Royal Bank of Canada in the frame as potential buyers, a report by The Financial Times has revealed.

According to people familiar with the matter, Evelyn’s private equity owners, Permira and Warburg Pincus, have called in investment bank, Evercore, to advise on the sales process.

The Financial Times report stated that a potential deal could value Evelyn at £2.5bn.

NatWest, cited as a potential suiter, could be eyeing acquisitions after it returned to full private ownership in May. The bank had been gradually buying back its shares which were owned by the Treasury following a bailout in 2008 by the Government during the financial crisis.

In May, Evelyn reported that its assets under management and advice (AUMA) had fallen by £1.1bn to £61.9bn in the first quarter of 2025. The wealth manager said at the time that the reduction in AUMA reflected the impact of “adverse market movements” in the first three months of the year.

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