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NATWEST WILL BUY EVELYN PARTNERS IN $3.68 BILLION BID TO BREAK CROWDED WEALTH MARKET

  • NEWS Desk Global
  • 1 day ago
  • 1 min read

NatWest Group has agreed to buy one of Britain's largest wealth managers, Evelyn Partners, for 2.7 billion pounds ($3.68 billion), including debt, in a bid to expand its wealth management business, the British lender said on Monday.

NatWest is following rivals such as HSBC and Lloyds in boosting wealth management offerings in recent years, as British lenders increasingly target the fee-based business to offset an expected decline in interest income as central bank rates fall.

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