JPMorgan, Deutsche Bank allow Saudi staff to work from home after Houthi strikes

JPMorgan: JPMorgan is a leading global investment bank and financial services firm with operations across multiple countries. In response to recent Houthi strikes in Saudi Arabia, the firm is permitting its Riyadh-based staff to work from home while keeping offices open for those who choose to attend. This measure addresses heightened security concerns affecting employees and their families. Citigroup: Citigroup is a multinational investment bank and financial services corporation with significant international operations. It has implemented work-from-home arrangements for employees in Saudi Arabia, emphasizing employee and family safety as a top priority amid the recent attacks. Saudi Aramco: Saudi Aramco is the state-owned oil company and one of the world's largest energy producers, headquartered in Saudi Arabia. Its headquarters in Dhahran was targeted in a Houthi strike earlier this week, contributing to the broader security concerns prompting finance firms to adjust operations. Deutsche Bank: Deutsche Bank is a major international investment bank and financial services provider with a presence in the Middle East. The bank has offered Saudi Arabia-based employees the option to work from home following a series of attacks, introducing the flexibility partly to support parents amid shifts to online schooling in the kingdom. Gonzalo Luchetti: Gonzalo Luchetti is the Chief Financial Officer of Citigroup. He publicly stated that the safety of employees and their families remains the firm's top priority when discussing the work-from-home policy introduced in response to the strikes. Franklin Templeton: Franklin Templeton is a global investment management company operating offices in key financial centers. It has temporarily closed its Riyadh office and directed all local staff to work from home until further notice in light of the escalating security situation tied to Houthi strikes. Event Disruptions: The strikes have interrupted the Gulf region's typical September-to-December conference season, leading organizers including the Future Investment Initiative to shift events to hybrid formats. Business Continuity: Finance firms are prioritizing remote work options to maintain operations while addressing security risks, with some offices remaining open voluntarily for staff. Geopolitical Escalation: Yemen's Houthis have vowed additional attacks on Saudi airports and oil facilities, framing them as retaliation in a widening conflict linked to U.S.-Israeli actions against Iran.