Natwest is reported to be considering a buyout for wealth management and financial adviser firm Quilter.
According to This is Money, the bank is in the early stages of consideration for the move and is up against private equity firms Bain and CVC for the takeover.
Natwest already has a stake in the wealth management market through the ownership of private bank Coutts. It joined the group in 1969, following a merger between the Westminster Bank and the National Provincial.
Quilter’s share price went up by as much as 18 per cent this morning as a result of the news.
Quilter will announce its half-year results for 2022 on 10 August and its full-year update for 2021 revealed it achieved a pre-tax profit of £138m. In the year prior, it saw a pre-tax profit of £108m.
The firm is said to be worth £1.4bn.
Mortgage Solutions has contacted Natwest for comment, Quilter declined to provide a statement.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
