(Photo by Tina Hartung on Unsplash.)
As financial services firms face the challenges of intense market volatility, the ongoing flow of sanctions, and the many other ramifications stemming from Russia’s horrifying invasion of Ukraine, they are also responding to a humanitarian crisis that has only just begun.
For instance, investment bank Jefferies announced that it will holding a “Doing Good Global Trading Day” on Wednesday, March 2, that will support organizations that are focused on humanitarian aid to the people of Ukraine
“Specifically, Jefferies will donate 100 percent of net global trading commissions on March 2nd for all trading in equities, fixed income and foreign exchange by the firm’s clients,” officials at the firm say in a prepared statement.
“In addition, Jefferies as a firm will donate $1 million directly, and its more than 4,500 employees worldwide will be given the opportunity to personally donate to these efforts. Given the evolving and complicated situation in Ukraine, these contributions will be carefully allocated to qualified charities to make sure the proceeds go directly to the people most in need,” according to the statement.
“War has broken out again in Europe, with a maniacal aggressor causing the death of civilians and combatants in a battle that seems to have no objective consistent with a rational world order. All of us at Jefferies feel the anguish and pain caused by this attack on the freedom of innocent people who only wanted to live in peace and pursue normal lives,” according to a joint statement from Rich Handler, CEO, and Brian Friedman, president, of Jefferies.
“Jefferies does not have offices in Ukraine (nor in Russia), but we cannot stand by and just watch this carnage and destruction without doing something to help. Circumstances are evolving and there will be some complexity to delivering civilian aid to where it is most needed, but we are committed to assuring that the funds that are contributed will go as directly as possible to support the humanitarian needs of the children, families and communities of Ukraine. We humbly ask for the support of our clients, employee-partners and shareholders as we all do what we can to make as much of a difference as possible for people who desperately need the world’s support,” according to the Handler-Friedman statement.
The full text of the Jefferies announcement can be found here: https://bwnews.pr/3K86OpP
Another investment bank, JPMorgan, is also reaching out and the bank’s operating committee announced that it was donating $1 million to help with humanitarian efforts.
“We are heartbroken to witness the tragic and growing humanitarian crisis in Ukraine. Our thoughts are with the innocent civilians who are suffering, and those individuals and families in neighboring countries and around the world who have been impacted,” according to the statement from the operating committee.
“To support humanitarian relief efforts, JPMorgan Chase is making an initial $1 million philanthropic contribution. Given how rapidly events are unfolding on the ground, the firm is actively considering where to deploy our resources to best meet the growing and changing needs. We know many of our employees are looking for ways to contribute, so the firm has also launched an employee matching campaign and will match employee donations dollar-for-dollar to select humanitarian relief organizations to maximize our collective impact.”
“As a firm, we support efforts to bring peace to the region, and will continue to monitor the situation and stay in touch with employees in affected areas,” according to the statement from the operating committee,” according to the statement.
For those who want to explore ways to give, MarketWatch has published an extensive list of places that will take donations for food, medicine, and shelter: https://on.mktw.net/3IB4XcK
Lastly, the Jefferies announcement includes a declaration that put it best: “We are in awe of the strength, dedication, perseverance, and humanity of the Ukrainian people. We are inspired by their commitment to each other and their leadership’s ability to marshal their fellow citizens’ passion as together they fight for democracy and freedom against incredible odds.”
Need a Reprint?