NatWest Group plc (NWG) M&A Call Transcript

Core Viewpoint - The acquisition of Evelyn Partners for GBP 2.7 billion positions the company as the leading private banking and wealth management firm in the U.K., enhancing its strategy by tapping into a growing market supported by favorable demographic, regulatory, and technological trends [2]. Company Overview - Evelyn Partners is a prominent financial planning and investment management firm with a 180-year history, a loyal client base, and a strong cultural alignment with the acquiring company [3]. - The firm operates a regional network of 21 offices and employs 270 financial planners and 325 specialist investment managers, along with a well-regarded direct-to-consumer investment platform, Bestinvest [3]. Financial Performance - In 2025, Evelyn Partners reported an income of GBP 509 million and an EBITDA of GBP 179 million, achieving a margin of 35% [3]. - The firm has successfully attracted net new inflows of GBP 1.6 billion, indicating strong prospects for future growth [3].