TOKYO/NEW YORK, June 23 (Reuters) - Several major
Japanese banks are considering evacuating staff from the Middle
East and Wall Street giant JPMorgan ( JPM ) has restricted
employee travel in the region as tensions escalate.
The United States entered the war against Iran over the
weekend with strikes against three key nuclear sites, joining
Israel's military campaign to cripple Tehran's nuclear
capabilities. Iran has vowed to retaliate.
On Monday, Israel struck Evin prison in northern Tehran,
a potent symbol of Iran's governing system, in what Israel
called its most intense bombing yet of the Iranian capital.
The war threatens years of effort by Middle Eastern
governments to court global financial firms as part of plans to
diversify their economies away from oil.
Countries such as Saudi Arabia and the United Arab Emirates
have pushed to position themselves as regional financial hubs,
offering incentives and regulatory reforms to attract banks and
asset managers.
Japan's Sumitomo Mitsui Financial Group ( SMFG ) has begun
evacuating staff from locations including Iran and Qatar to
ensure their safety, a spokesperson said.
U.S.-based JPMorgan ( JPM ) is allowing only essential travel in and
out of the Middle East for employees, a person familiar with the
matter told Reuters on Monday.
The largest U.S. bank is offering support to employees on an
individual basis, as needed, the source added, requesting
anonymity discussing confidential information.
Goldman Sachs ( GS ) had asked its staff in Israel to work
remotely about a week ago, according to a source familiar with
the matter.
Japan's Mitsubishi UFJ Financial Group ( MUFG ) has begun
evacuating some family members of staff from Dubai and the Saudi
Arabian capital Riyadh, a spokesperson said, and is also
considering allowing staff to leave at their own discretion.
Ang Wee Khoon, head of risk management at the DIFC branch of
Bank of Singapore, one of Asia's biggest private banks, told
Reuters the bank has halted all non-essential travel to and from
Dubai.
"The safety of our staff is our highest priority, and we
stand ready to activate our business continuity plans while
minimising the disruptions to clients," Ang said.
Mizuho Financial Group ( MFG ) is urging its staff to be
cautious and is considering measures including evacuations, a
spokesperson said.
(Reporting by Miho Uranaka, Makiko Yamazaki and Sam Nussey in
Tokyo, Pritam Biswas in Bengaluru and Yantoultra Ngui in
Singapore, Saeed Azhar in New York; Writing by Manya Saini;
Editing by Kate Mayberry and Devika Syamnath)