Quilter shares surge on report  British and Irish wealth adviser could be snapped up

 NatWest is retreating from banking in the Republic and has struck deals with Permanent TSB and AIB over most of Ulster Bank's loan books.

Shares in wealth and pensions adviser Quilter, which in Ireland competes with Davy, Goodbody, and other firms, surged on the first day of trading after a Sunday newspaper reported it could be snapped up.

The London-listed shares at one stage rose as much as 18%. It comes after a report by the Mail on Sunday that NatWest, which owns Ulster Bank, is considering a bid for the wealth manager. Even after this rise, Quilter’s shares are down about 31% this year.