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flag NatWest nears £2.5B–3B deal to buy Evelyn Partners, boosting its private banking.

flag NatWest Group is reportedly close to acquiring UK wealth manager Evelyn Partners in a deal valued at £2.5 billion to £3 billion, according to sources. flag The potential purchase, which could be announced soon, would mark NatWest’s largest deal since the 2008 bailout and aims to strengthen its private banking arm, particularly through its Coutts division. flag The acquisition, believed to have been won over competitors including Barclays, is being managed by Evercore. flag Evelyn, which manages nearly £65 billion in assets, was formed by a 2020 merger under private equity owners Permira and Warburg Pincus, who recently sold a related business to Apax Partners. flag No official confirmation has been issued by any party involved.

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