Bank apologises after email describes Hamas leader's death as 'sad'

Union Bank of Switzerland (UBS) quickly issued a statement to Jewish News following the email's emergence on social media

By Richard Ferrer August 1, 2024, 5:56 pm Edit

Richard Ferrer has been editor of Jewish News since 2009. As one of Britain's leading Jewish voices he writes for The Times, Independent, New Statesman and many other titles. Richard previously worked at the Daily Mail, Daily Mirror, edited the Boston Jewish Advocate and created the Channel 4 TV series Jewish Mum Of The Year.

A leading global investment bank has issued an apology for sending an email to clients that lamented the death of Hamas’ political leader and the mastermind behind the 7 October terror attack on Israel as “sad”.

Union Bank of Switzerland (UBS), one of the world’s largest financial institutions, circulated a “trading desk commentary” to “institutional clients” on Wednesday, stating: “Reports indicate that Hamas leader [Ismail] Haniyeh sadly was killed in the attack which further escalates tensions with Iran”.

The email, headlined “USB Cash Trading – Main Themes 31st July,” was a routine communication sent to the bank’s clients to update them on how world events are affecting financial markets.

Iranians take part in a protest against the killing of Ismail Haniyeh, the political head of Hamas, in Palestine Square in Tehran, Wednesday, July 31, 2024. (Majid Saeedi/Getty Images via JTA)

Following the emergence of the message on social media, UBS quickly issued a statement to Jewish News.

A spokesperson said: “UBS condemns all acts of terrorism and stands with those who advocate for peace and international law. We are aware of inappropriate language that was used yesterday in a market commentary email. We immediately issued a formal apology to all who received it. We are also conducting a review to prevent any similar incidents happening again.”