Nigel Farage has called for a parliamentary inquiry into why a unit of NatWest Group Plc closed his bank account, as the decision draws increasing criticism from Conservative lawmakers. The bank’s bosses “should appear before a parliamentary committee to explain why they are making political and moral judgments on customers of theirs who meet their financial requirements and who give opinions that are entirely within the law,” Farage said in an interview with Bloomberg Radio. “It is not...

Goldman Sachs Group Inc. partner Lear Janiv will relocate from London to Paris to become head of FICC and equities trading at the bank’s main European Union unit. Janiv, a 16-year veteran of the firm, will coordinate the development of the bank’s European trading franchise, according to an internal memo. Goldman moved into a new, 9,000-square meter Paris headquarters last year, and has grown from around 170 staff in 2017 to 350 at the end of 2022 in the country, with further hires expected in...

The Bank of England warned that life insurers are taking an “optimistic” view of how easily they could ditch sub-investment-grade assets in tough times. The Prudential Regulation Authority, part of the BOE, made the comments as it issued the results of its 2022 stress test for the industry. Most firms assumed they could sell such assets within six to 12 months but “this could be optimistic, especially as other investors would also be taking similar actions,” Charlotte Gerken, executive...

JPMorgan Chase & Co. has hired executives from Bank of America Corp. and Deutsche Bank AG to expand its corporate banking services for mid-sized companies outside the US. The Wall Street firm on Thursday named Stephanie Soybel, formerly of Bank of America, as head of Nordics payments sales for corporate client banking in Stockholm, according to an internal memo. Saskia Weller, previously at Deutsche Bank, will serve in Berlin as debt finance lead for Germany, Austria and Switzerland. Alex...

The world’s biggest investment banks endured their worst year for dealmaking and fundraising since 2016 after surging interest rates and economic gloom chilled the sector. The 100 largest banks by revenue made $77.1 billion from mergers and acquisitions and equity and debt issuance in 2022, a 38% drop from the previous year, BCG Expand Research in London said. The value of global dealmaking slumped about a third to $3.6 trillion last year, according to data compiled by Bloomberg. “With the...