This is absolutely fantastic. Just when you think there isn't any corporate conscience left, Jefferies steps up and renews your faith in humanity just a little bit.
The investment bank announced that all net commissions and salaries from trading Friday will be donated to earthquake relief in Haiti. They're were at $4.5 million, and they wanted the total donation to be $6 million by day's end. Here's hoping they made it. This is an example of Wall Street using its enormous power for good. My hat is off to each and every employee at Jefferies, especially those who have generously donated a day's wages to help relieve this terrible tragedy. You guys are aces in my book.
It is not my intention to sleight any other bank on the street doing their part to raise money to help Haiti or any other of a number of worthy causes. I know it goes on, an no one really ever talks about it. I'm just pointing out Jefferies because it's this kind of Johnny-on-the-spot response to an emergency that does the most immediate good. The bank says the total donation will reach Haiti by today.
Hats off to Jeffries. Latest is 7.5MM, 5.5MM from trading.
That's awesome.
Bravo!
Wow! That really is incredible. They REALLY need it...One of the most horrific things I have ever seen was that 60 minutes special they just did.
Well done, Jefferies. Port-au-Prince is basically completely destroyed and must be rebuilt. Common goals often serve to unite, so let's hope this is the case here as well.
a few banks have stepped up as well, including DB and Citigroup donating trading commissions. They are to be commended as well. I was sure Goldman would step up and try to shed some positive light on firm ( social responsibility, all that good stuff)...but of course, Blankfein is a public relations nightmare.
Actually, many banks and a couple hedge funds have ponied up some serious dough ($1m+ each). They are all to be commended. I simply singled out Jefferies because they not only gave the most, but their employees put their own money on the line, too.
Deutsche Bank's Global Markets raises USD 4m for Haiti relief efforts
January 16, 2010
Deutsche Bank announced its Global Markets Equity group has raised USD 4m for Haiti disaster relief through its commitment to donate 100% of Friday's net US agency equity trading commissions to the cause. The initiative was announced this morning and attracted strong support from the Bank’s clients. The funds raised will directly support immediate relief activities and long-term rebuilding efforts for the people of Haiti.
“We are extremely gratified to partner with our clients to address the urgent needs of the Haitian people,” said Robert Karofsky, Deutsche Bank’s Co-Head of Global Markets Equity. “With the tremendous support of our clients, we were able to generate USD 4m in commissions which will be donated to aid agencies assisting in the immediate and longer-term recovery efforts in Haiti.”
In addition to the funds raised through the trading commissions, Deutsche Bank also is offering unlimited, expedited matching gifts to US employees through the Deutsche Bank Americas/UK/APAC Foundation’s Matching Gifts Program.
Deutsche Bank is partnering with AmeriCares, Doctors Without Borders, Oxfam America and Partners in Health to channel its emergency funds. In addition to supporting immediate disaster relief, a portion of the resources will be deployed over the coming year by the Deutsche Bank Americas Foundation to help Haiti with longer-term rebuilding strategies. Working with organisations like Fondation Connaissance et Liberte (FOKAL), Habitat for Humanity and Fonkoze, philanthropic dollars will be provided to rebuild housing, restore communities, re-start businesses, create jobs and piece together health care and sanitary services. Through this multifaceted approach, Deutsche Bank hopes to help provide Haiti with the best chance to succeed post-crisis as a country that is stable and sustainable for the long term.
I'm pretty sure Credit Suisse did this too.
That is absolutely great. That would be a lot of fun trading for this cause, too. I'm sure it's a fresh inspiration.
I'm pleased to see that the trolls on this site haven't made any wise ass Jefferies comments yet. This is a great move by Jefferies and I hope that more financial institutions follow their example.
Capitalism has suffered quite a few black eyes in the last decade.
Stuff like this is proves that not only can you be a capitalist, but you can also have a heart.
Jefferies steps up for Haiti, s***s on their shareholders. (ticker: JEF) more corporate terrorism in action
Why are you bringing this up?
If you're butthurt from owning their shares, then deal with it through the proper channels. If not, then who cares?
They're up the past six months fwiw.
the point is they're spending OPM to make themselves look good.
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