NatWest Group plc said it had agreed a deal to buy UK wealth manager Evelyn Partners from funds advised by Permira and Warburg Pincus for £2.7bn including debt and launching a new £750m share buyback.
The bank on Monday said the deal would increase fee income by 20% pre-revenue synergies. Evelyn Partners has £69bn of assets under management compared with NatWest's £59bn.
Reporting by Frank Prenesti for Sharecast.com
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