Northern Trust completes acquisition of Aviate Global

Northern Trust completes its acquisition of brokerage firm Aviate Global, thereby increasing its presence in Sydney and strengthening its global trading and transition management services.

Foreign banks are threatening firms trying to borrow money with higher repayments if Britain quits the EU.

Lenders are preparing to introduce controversial ‘flexit’ clauses in company documents, enabling them to raise the cost of a loan in the event of Brexit.

Wall Street’s Goldman Sachs and Germany’s biggest lender Deutsche Bank are among a number of City giants reported to have broached clients about the move.

Wall Street’s Goldman Sachs (pictured) is among a number of City giants reported to have broached clients about the move

Both Goldman Sachs and Frankfurt-based Deutsche Bank, which have around 13,000 staff in London between them, are vocal supporters of the campaign to stay in the EU

Last night Peter Hargreaves, co-founder of investment firm Hargreaves Lansdown, said: ‘This astounds me.

'It is completely outrageous and clients of [banks that do this] should tell them to stick it and find somewhere else to get their money.’

The 69-year-old, a prominent member of the Vote Leave campaign, added: ‘We’ve always known the mentality of the big banks – they are all rapacious and out to make as much money as they can.

‘You can’t trust them. I suspect there are ulterior motives at play here. These banks should stay out of politics.’

Most discussions are said to have involved small and medium-sized companies, or firms which could be directly affected by Brexit – for example, those which export to the EU such as car manufacturers.

The development plays into the hands of pro-Brussels campaigners – led by Chancellor George Osborne – who have warned mortgages and loans could become more expensive if Britain goes it alone.

Both Goldman Sachs and Frankfurt-based Deutsche Bank, which have around 13,000 staff in London between them, are vocal supporters of the campaign to stay in the EU.

Lenders, such as Deutsche Bank (pictured) are preparing to introduce controversial ‘flexit’ clauses in company documents, enabling them to raise the cost of a loan in the event of Brexit

They have warned about the damaging repercussions of Brexit and threatened to move large chunks of their businesses out of the UK in the event of a vote to leave.

Goldman Sachs has also donated around £500,000 to the remain campaign.

Last night one City commentator said the introduction of ‘flexit’ clauses – reported in the Financial Times – was just the latest example of the ‘hysterical nonsense’ generated by the pro-Brussels camp.

David Buik, of stockbroker Panmure Gordon, said: ‘I’ve never encountered such a degree of intransigence – predictions of death and destruction if we leave the EU.

Goldman is bankrolling the remain campaign because it makes millions in fees from the Government from advising on privatisations and asset sales.

‘It wants to scratch the back of the Government which has filled its cup to overflowing.’

Goldman Sachs and Deutsche Bank declined to comment.

WE NEED YOUR VOTERS, PM BEGS NEW LONDON MAYOR SADIQ KHAN Win: New London Mayor, Sadiq Khan David Cameron has begged London’s new Labour mayor to help with the EU referendum campaign – just days after branding him an extremist sympathiser. Sadiq Khan revealed the Prime Minister had called to congratulate him on his election victory last week, and asked for help in ensuring pro-Brussels Labour supporters vote in next month’s EU poll. Mr Khan told the London Evening Standard Mr Cameron was ‘worried about the turnout’ in the referendum among EU supporters. Downing Street yesterday confirmed the two men had ‘touched on the EU’ during a phone conversation on Sunday, but did not elaborate on Mr Cameron’s fears. A No 10 spokesman declined to say whether the Prime Minister stood by previous claims that Muslim Mr Khan was a threat to London. In the Commons last month Mr Cameron said he was ‘concerned’ Mr Khan shared platforms with extremists. Last week he added: ‘He stood on a platform with people who wanted an Islamic state.’

■ Efforts to tackle the trade in rhino horn and elephant ivory will be put at risk if Britain leaves the EU, the environment minister will warn today.