Bank of America, JP Morgan Chase, Morgan Stanley, Goldman Sachs and Jefferies have each committed at least $1 million to earthquake relief.
Other financial institutions, including Wells Fargo and TD, have also announced donations.
While most of the aid is in the form of cash and is being donated to the American Red Cross and other aid groups, some financial firms are getting more directly involved. Citigroup, whose Haitian headquarters collapsed in the earthquake, said a rescue team organized by the firm pulled two employees alive from the rubble and was searching for more who may be trapped.
The survivors, who weren’t identified, suffered minor injuries, Liliana Mejia, a spokeswoman for the bank told Bloomberg. Several other employees who weren’t in the three-story Port-au-Prince building when it collapsed also have been accounted for, she said.
Citigroup has a banker on its website directing visitors to make donations to the Red Cross.
B of A said it committed a $500,000 grant to the American Red Cross for immediate relief efforts and will direct the remaining $500,000 toward long-term recovery efforts, such as restoring basic medical services and funding the rebuilding of homes, schools and other structures critical to the affected communities.
In addition, Bank of America will match associate pledges through the bank’s Matching Gifts program.
"We believe it is our responsibility to do our part to suppor the relief effort,"Global Chief Strategy and Marketing Officer Anne Finucane said in a press release. “Many of our associates, particularly in the South, have family and friends who were impacted by this disaster.”
JPMorgan Chase said it will provide a total of $250,000 to The American Red Cross and CARE for emergency care such as setting up temporary shelters, offering medical assistanc and helping with sanitation.
The bank said in a press relief it will donate an additional $500,000 for future recovery and rebuilding efforts, split between CARE, The American Red Cross and aid organization World Vision. It will also encourage its employees to contribute to the relief efforts, matching up to a total of $250,000 of employee contributions made to The American Red Cross or CARE via a special employee donation website. Contributions eligible for the match must be made via the website
Jefferies will donate all of Friday's net commissions and volunteered salaries, plus $1 million, according to Bloomberg.
Haiti’s prime minister said yesterday that 100,000 people may have died in the 7.0 magnitude quake that struck the Haitian capital on Jan. 12. Hospitals and roads were destroyed by the quake, compounding the difficulty of aiding survivors.