Jefferies to donate trading business revenue to people of Ukraine

Jefferies Financial Group is donating money it generates through its trading business to support the people of Ukraine.

The investment bank will give 100% of Wednesday’s global net trading revenue to Ukrainian humanitarian relief, CEO Richard Handler said in an Instagram story on Monday. Handler has been vocal on social media in his support for Ukraine amid Russia’s invasion.

The bank is one of the first in the US to directly support Ukraine with funds from its own business. The money will come from trading in equities, fixed-income and foreign-exchange units, the firm said in a statement. Jefferies will also provide $1m directly, and give its 4,500 employees the opportunity to make personal donations. 

“Given the evolving and complicated situation in Ukraine, these contributions will be carefully allocated to qualified charities to make sure proceeds go directly to the people most in need,” New York-based Jefferies said in the statement. 

Bloomberg. More stories like this are available on bloomberg.com