NatWest weighing up swoop for wealth management firm Quilter which would be its biggest takeover since the financial crisis
- On August 3, 2022
- By GrowthInvest Marketing
NatWest is in the early stages of studying a bid for wealth management firm Quilter, according to City sources.
A takeover would be the biggest for the British lender since the bank went into taxpayer ownership at the height of the financial crisis with a £46billion bailout.
Private equity firms including CVC, Bain Capital and BC Partners have also shown interest in the FTSE250 group in recent weeks, the sources said.
Quilter, with a value of £1.4billion, is said to be one of many wealth management firms that lack scale and investment to compete with larger players and banks.
Its shares are down a third this year to their lowest since it went public in 2018 following the break-up of its parent, financial services firm Old Mutual.
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