Barclays announced that in response to the unprecedented damage caused by Hurricane Sandy, the firm has committed $1.5 million in support of disaster recovery efforts. The funds will be allocated by providing $500,000 for emergency relief and $1 million for long-term recovery and economic reconstruction efforts.
“The impact of Hurricane Sandy has been devastating,” said Antony Jenkins, Chief Executive of Barclays. “With more than 10,000 employees living and working in the tri-state area, we are committed to the relief and restoration of the communities affected by this storm. As the Northeast moves into the recovery stage, we will provide all the assistance we can, both in economic aid and by coordinating volunteer opportunities for our colleagues.”
The firm’s pledged relief will include:
$500,000 for immediate relief investments
- $100,000 to the Hurricane Sandy New Jersey Relief Fund
- $100,000 to New York Cares’ Hurricane Sandy Disaster Response
- $100,000 to the American Red Cross, of which $50,000 will be designated for the American Red Cross in Greater New York and $50,000 will be designated for the American Red Cross of Northern New Jersey
- $100,000 to The Robin Hood Foundation’s Hurricane Sandy Relief Fund
- $50,000 to City Harvest’s Hurricane Sandy efforts
- $25,000 to Brooklyn Community Foundation’s Brooklyn Recovery Fund
- $25,000 to Food Bank for New York City’s Hurricane Sandy efforts
$500,000 for long-term economic redevelopment investments
- $500,000 to The Mayor’s Fund to Advance New York City for small business restoration and support
The remaining $500,000 pledged by Barclays will be used for additional long-term economic redevelopment investments.
Barclays moves, lends, invests and protects money for customers and clients worldwide. With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people. We provide large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Our clients also benefit from access to the breadth of expertise across Barclays. We’re one of the largest financial services providers in the world, and are also engaged in retail banking, credit cards, corporate banking, and wealth and investment management. Barclays offers premier investment banking products and services to its clients through Barclays Bank PLC.