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(Reuters) – Several U.S. banks have told their staff in Israel to work from home for the near future as the country goes on war footing and mobilises reserve troops following a deadly attack by Palestinian Islamist group Hamas two days ago.
JPMorgan Chase (NYSE:JPM), the largest U.S. bank with more than 200 employees in Israel, and Citigroup (NYSE:C) have approved such a work plan, sources at the Wall Street lenders told Reuters on Monday.
Investment banking giant Goldman Sachs has also directed employees at its Tel Aviv offices to work from home, a spokesperson said in an email statement.
“The firm is ready to help you and your families in any we can,” Goldman Sachs CEO David Solomon said in a memo, seen by Reuters, to staff in Israel.
The Israeli military said it was imposing a total blockade of the Gaza Strip, in a sign that it could be planning a ground assault to defeat Hamas.
Israel’s Kan TV said the death toll from the Hamas attack had climbed to 800. In Hamas-controlled Gaza, Israel pressed on with its most intensive retaliatory strikes ever, which have killed more than 500 people since Saturday.
“We are monitoring the situation in Israel carefully. The safety of our colleagues is our highest priority and at the same time we remain focused on serving our clients,” said Citigroup, whose local website said it has the largest presence among foreign financial institutions in the country.
“We remain in close, ongoing touch with our team in Israel, including our Country Executive Yoram Inbar. They are safe, and we are ensuring they have support and resources as needed,” said Bank of America in an internal memo seen by Reuters.
JPMorgan’s plans were first reported by Bloomberg News, which said Morgan Stanley had also taken similar steps for its staff in Israel.
Morgan Stanley did not immediately respond to Reuters requests for comment, while JPMorgan declined to comment.
Meanwhile, global markets on Monday were jolted by the conflict. The S&P 500 and the Nasdaq fell, while oil prices surged.
