Wealth manager Evelyn Partners announced on Monday that, upon completion of its acquisition by Edinburgh-registered NatWest Group plc, chief executive officer Paul Geddes and chief financial officer Alex Gersh will step down from their roles.
Chris Kenny, currently chief investment management officer, will become CEO of Evelyn Partners, reporting to Emma Crystal, CEO of NatWest’s Private Banking & Wealth Management (PBWM) division.
Din Mustaffa, currently Deputy CFO of Evelyn Partners, will become CFO, reporting to Chris Kenny.
The acquisition by NatWest, which is subject to regulatory approval, was announced on February 9, 2026 and is expected to complete this summer.
NatWest agreed to acquire Evelyn Partners from funds advised by Permira and Warburg Pincus for £2.7 billion enterprise value.
Geddes said: “As we work towards completion of this major transaction, plans are well underway to bring our organisation together with NatWest PBWM to create the UK’s leading private banking and wealth management business.
“I would like to congratulate both Chris and Din on their prospective new roles. Chris’s extensive industry experience, long tenure at the firm and his client-focus make him the right leader for the business as it enters the next phase of integration and growth.
“It has been an absolute privilege to lead Evelyn Partners over the past three years, and I know I am leaving the business in excellent hands where it will be well positioned to seize the significant opportunities ahead.”
Kenny said: “I am incredibly proud to be taking on the role of CEO of Evelyn Partners at such an important moment for the firm.
“Having spent nearly 29 years here – both at Evelyn Partners and previously at Smith & Williamson – this is a business I care deeply about, along with the clients we serve and the people who make it what it is.
“Becoming part of NatWest gives us the opportunity to build something truly distinctive in the UK market, bringing together Evelyn Partners’ strengths in investment management and financial planning with NatWest’s scale, heritage, and private banking capabilities.”
Evelyn Partners chair Chris Grigg said: “I would like to thank Paul and Alex for their outstanding service to the business which has culminated in this landmark transaction in the UK wealth management sector.
“Since taking on the CEO role three years ago, Paul has been a true leader within the wealth management sector and led Evelyn Partners through a period of major transformation.
“He has refocused the business wholly on wealth management with the successful sales of its Professional Services, Fund Solutions and Employee Benefits Consultancy businesses, and has positioned it for the next stage of growth and development as part of the NatWest Group. I wish Paul and Alex every success for the future and congratulate Chris and Din on their new roles.”
Evelyn Partners was created in 2020 through the merger of Tilney and Smith & Williamson. With £69 billion of assets under management it is one of the largest UK wealth managers ranked by client assets.