Money managers are rallying to raise money for relief efforts in Haiti, devastated by a 7.0-magnitude earthquake that hit the capital city of Port-au-Prince on Jan. 12.
A Leg To Stand On, a charity supported by the hedge fund industry that aims to provide artificial limbs for children in impoverished areas of the world, sent out a call to money managers on Jan. 13 to help in its relief effort and already has raised roughly $300,000. Mead Welles, co-founder of the group and CEO of Octagon Asset Management LLC, said the organization is working to assess the logistics of providing surgeries for the injured.
“Once we determine our funding requirements and supply needs, then we'll have an additional campaign to raise capital resources,” Mr. Welles said in an interview. Contributions can be made to A Leg To Stand On at the charity's website.
Other firms donating to relief efforts include:
• BMO Financial Group, which gave $250,000 to the Red Cross in Haiti.
• Jefferies & Co. is donating net commissions — and employees could contribute their salary — from Jan. 15, plus $1 million, for relief efforts to be split among the Red Cross, UNICEF, Save the Children and the U.N. Central Emergency Response Fund.
• AllianceBernstein donated $50,000 to the American Red Cross and made a commitment to match dollar-for-dollar, up to $450,000, employees' donations to U.S. charities providing relief in Haiti. — Timothy Inklebarger