Barclays considers bid for UK wealth manager Evelyn Partners – report

Core Viewpoint - Barclays is considering acquiring the UK wealth management firm Evelyn Partners, with a potential bid placement next week, as part of its strategy to expand in the mass-affluent segment [1][2]. Group 1: Acquisition Details - Barclays is evaluating a bid for Evelyn Partners, which is valued at over £2.5 billion ($3.33 billion) [2]. - The sale process for Evelyn began earlier this year, with non-binding offers requested by December 10, 2025 [1][2]. - Other financial institutions, including NatWest Group, Lloyds, and Royal Bank of Canada, have also expressed interest in acquiring Evelyn [2]. Group 2: Strategic Implications - If the acquisition is successful, it would enhance Barclays' presence in the mass-affluent segment, which is below the wealthiest private clients [3]. - Barclays' private bank and wealth management division reported a nearly 4% increase in assets under management in Q3 2025 compared to the previous quarter [3]. - The CEO of Barclays' private bank and wealth management highlighted the affluent segment as a significant long-term opportunity for the bank [3]. Group 3: Background on Evelyn Partners - Evelyn Partners, previously known as Tilney Smith & Williamson, has been managed by Permira since 2014 and currently oversees £63 billion in client assets [3]. - Warburg Pincus became a minority shareholder in 2020 to support a merger between Tilney and Smith & Williamson [4].