Bank apologises after email describes Hamas leader’s death as ‘sad’

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.

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.”