Evelyn Partners has appointed Chris Kenny as chief executive and Din Mustaffa as chief financial officer ahead of the firm’s acquisition by NatWest.
The changes will be made on completion of the purchase from Permira and Warburg Pincus in a deal worth £2.7bn.
The deal, which is subject to regulatory approval, was announced in February and is expected to complete this summer.
Evelyn Partners’ chief executive, Paul Geddes, and chief financial officer, Alex Gersh, will step down.
Geddes said: “As we work towards completion of this major transaction, plans are well underway to bring our organisation together with NatWest’s Private Banking and Wealth Management division to create the UK’s leading private banking and wealth management business.”
He added: “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, who is currently chief investment management officer, will report to Emma Crystal, chief executive of NatWest’s Private Banking and Wealth Management division. Mustaffa, currently deputy chief financial officer, will report to Kenny.
Kenny said: “I am incredibly proud to be taking on the role of chief executive 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.”
hereward.mills@ft.com