NatWest Group is weighing a takeover offer for Tilney Smith & Williamson, according to a report from Sky News over the weekend.
Tilney Smith & Williamson is being put up for sale by its private equity owners this year, with NatWest among a number of banks and financial investors that are said to be interested in bidding for the firm.
Sky News said it had learned from sources that NatWest is in the "early stages" of considering an offer.
NatWest Group has been contacted for comment.
Tilney Smith & Williamson AUM reaches record £57.7bn ahead of summer rebrand
The group already owns a number of brands, including private banking and wealth management firm Coutts, asset finance provider Lombard and private bank Drummonds.
Tilney Smith & Williamson, which comprises Tilney, Smith & Williamson, BestInvest and Tilney for Professionals, is due to rebrand to Evelyn Partners in the summer, consolidating all its brands under a single name.
Tilney CEO Chris Wodehouse is pictured above.
A spokesperson told Investment Week in March this year: "The choice of a new name reflects the fact that the business is now one firm with a single purpose enabling it to offer a broader, integrated offering to all clients."
The £56bn wealth management firm is owned by Warburg Pincus and Permira, which acquired Tilney in 2014.
Earlier this year, Bloomberg reported that Warburg Pincus is preparing to buy Permira's stake in the business to take full control of the business.
Sky News reported that if a sale of Tilney Smith & Williamson were to go ahead, it would be in the region of £2.5bn to £3bn, with the process due to commence in the next six weeks.
