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Akshay Singal, the London-based global head of short-term interest rate trading, published the note with photos of malnourished children on Thursday. Before the end of the day, the bank asked for it to be removed and is conducting a review, according to people with knowledge of the matter.
'Until now, I've kept most of my thoughts to private channels,' Singal wrote on LinkedIn. 'But that's not enough. What's happening demands our attention, and our voice.'
'Israel's ongoing destruction of Gaza and killing of Palestinians is horrific and unacceptable,' he continued in the post, calling it a 'genocide.' 'Silence isn't neutrality. It's complicity.'
The executive didn't respond to a LinkedIn message seeking comment.
'We are aware of a social media post made by one of our employees that is inconsistent with our code of conduct,' a spokesperson for Citigroup said. 'The post has been removed, and we are reviewing the matter.'
The bank's move is the latest reflection of corporations' reluctance to take stances on polarizing topics. In the US, President Donald Trump's support for Israel has led companies, universities and nonprofits to re-examine how they address the conflict to avoid his administration's wrath.
Scores of aid groups say starvation is spreading in Gaza, with the United Nations saying Israel's military is making it less safe and more difficult for staff to distribute food. Israel's government has blamed Hamas, designated a terrorist group by the US, for stealing aid intended for people there.
Citigroup was the first international bank to obtain a full banking license in Israel back in 2000, and today says it has the largest presence of any foreign financial institution in the country.
It also faced protesters outside its headquarters last year who said the bank is central to a financing arrangement enabling Israel's purchase of F-35 fighter jets from the US government.
Singal assumed his role atop the short-term interest-rate trading desk in March last year. The group previously was led by Marcus Satha, who left to run a children's book charity focused on narratives that represent diverse ethnicities and backgrounds.
Singal's prior post on LinkedIn was a recognition of Citigroup's culture and its support of employees, as he announced the start of six months of paternity leave.
'Stepping away from markets for this long isn't typical — especially for men. But it should be,' he wrote. 'I'm grateful to work at a firm that supports this.'
--With assistance from Peter Eichenbaum.
(Updates with details of Citi's presence in Israel and protests at its headquarters in the ninth and 10th paragraphs.)
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16 minutes ago
- Forbes
A Big, Beautiful Fiction - Does The EU/US Trade Deal Make Sense?
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27 minutes ago
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