Barclays BARC.L has been exploring a potential acquisition of Evelyn Partners, one of Britain's largest wealth managers, and is expected to place a bid next week, three people familiar with the matter told Reuters.
Evelyn's private equity shareholders Permira and Warburg Pincus have asked prospective buyers to submit non-binding offers on December 10, two of the people said. They kicked off a sale of Evelyn earlier this year, which could value the wealth manager at more than 2.5 billion pounds ($3.3 billion), Reuters reported in July.
The sale has also drawn interest from NatWest Group NWG.L and Lloyds LLOY.L, two of the people said. Royal Bank of Canada RY.TO has also been weighing an offer for Evelyn, a fourth person familiar with the matter added.
The sources, who requested anonymity because the matter is private, said there was no certainty a transaction would materialise or that Barclays and others would present offers.
Barclays, NatWest, Lloyds and RBC declined to comment. Permira and Warburg Pincus also declined to comment.
For Barclays, Evelyn would expand its wealth management capabilities into the mass-affluent sector, a tier below the wealthiest clients, which larger British banks have increasingly targeted in recent years as they try to grow fee-based income to compensate for falling lending income as interest rates fell.
Barclays said in its third-quarter earnings statement that assets under management at its private bank and wealth management business rose by nearly 4% from the previous quarter.
Barclays [BARC.L](https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=BARC.L) has been exploring a potential acquisition of Evelyn Partners, one of Britain's largest wealth managers, and is expected to place a bid next week, three people familiar with the matter told Reuters.
Evelyn's private equity shareholders Permira and Warburg Pincus have asked prospective buyers to submit non-binding offers on December 10, two of the people said. They [kicked](reuters://REALTIME/verb=NewsStory/ric=nL8N3TP0NA) off a sale of Evelyn earlier this year, which could value the wealth manager at more than 2.5 billion pounds ($3.3 billion), Reuters reported in July.
The sale has also drawn interest from NatWest Group [NWG.L](https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=NWG.L) and Lloyds [LLOY.L](https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=LLOY.L), two of the people said. Royal Bank of Canada [RY.TO](https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=RY.TO) has also been weighing an offer for Evelyn, a fourth person familiar with the matter added.
The sources, who requested anonymity because the matter is private, said there was no certainty a transaction would materialise or that Barclays and others would present offers.
Barclays, NatWest, Lloyds and RBC declined to comment. Permira and Warburg Pincus also declined to comment.
For Barclays, Evelyn would expand its wealth management capabilities into the mass-affluent sector, a tier below the wealthiest clients, which larger British banks [have](reuters://REALTIME/verb=NewsStory/ric=nL4N3K90WM) increasingly targeted in recent years as they try to grow fee-based income to compensate for falling lending income as interest rates fell.
Barclays said in its third-quarter earnings statement that assets under management at its private bank and wealth management business rose by nearly 4% from the previous quarter.
<p>Barclays <a href="https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=BARC.L">BARC.L</a> has been exploring a potential acquisition of Evelyn Partners, one of Britain's largest wealth managers, and is expected to place a bid next week, three people familiar with the matter told Reuters.</p><p>Evelyn's private equity shareholders Permira and Warburg Pincus have asked prospective buyers to submit non-binding offers on December 10, two of the people said. They <a href="reuters://REALTIME/verb=NewsStory/ric=nL8N3TP0NA">kicked </a>off a sale of Evelyn earlier this year, which could value the wealth manager at more than 2.5 billion pounds ($3.3 billion), Reuters reported in July.</p><p>The sale has also drawn interest from NatWest Group <a href="https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=NWG.L">NWG.L</a> and Lloyds <a href="https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=LLOY.L">LLOY.L</a>, two of the people said. Royal Bank of Canada <a href="https://workspace.refinitiv.com/web/apps/quotewebapi?RIC=RY.TO">RY.TO</a> has also been weighing an offer for Evelyn, a fourth person familiar with the matter added.</p><p>The sources, who requested anonymity because the matter is private, said there was no certainty a transaction would materialise or that Barclays and others would present offers.</p><p>Barclays, NatWest, Lloyds and RBC declined to comment. Permira and Warburg Pincus also declined to comment.</p><p>For Barclays, Evelyn would expand its wealth management capabilities into the mass-affluent sector, a tier below the wealthiest clients, which larger British banks <a href="reuters://REALTIME/verb=NewsStory/ric=nL4N3K90WM">have</a> increasingly targeted in recent years as they try to grow fee-based income to compensate for falling lending income as interest rates fell.</p><p>Barclays said in its third-quarter earnings statement that assets under management at its private bank and wealth management business rose by nearly 4% from the previous quarter.</p>