Has the Middle East conflict affected Wall Street? Goldman Sachs and Citibank notify Paris employees to work from home.

An attempted bombing attack on the Bank of America office in Paris is spreading to major financial institutions on Wall Street.

According to a report by the UK’s Financial Times on Thursday, Goldman Sachs and Citigroup have each notified employees in Paris that they may work from home, after U.S. authorities issued warnings to multiple banks regarding a potential security threat.

JPMorgan Chase said it has fully strengthened security measures in locations nationwide since the attempted attack on the Bank of America. French prosecutors believe the attempted bombing at the Bank of America office in Paris last weekend may be linked to an Iran-aligned group.

The incident has put Wall Street banks with major operations in Paris into a heightened security alert status, raising concerns among outsiders that Middle East geopolitical conflict could spread to Europe’s financial hubs.

Attempted bombing triggers bank security response

Goldman Sachs notified Paris employees on Thursday that, if they wish, they can work from home. Previously, the police and prosecutors had launched an investigation into security threats targeting the firm. Goldman Sachs’s Paris office overlooks the Arc de Triomphe and is located in the city center. The Paris prosecutor said on Thursday that no “suspicious circumstances” were found inside the Goldman Sachs office, and that some employees are still working in the building.

Citigroup, meanwhile, took even more explicit measures, notifying employees in Paris and Frankfurt that all staff should work remotely on Thursday and Friday. In a statement, Citigroup said: “We are taking the necessary measures to ensure employee safety. As a precaution, Citigroup employees in Paris are working remotely.”

JPMorgan Chase declined to comment, but a person familiar with the matter said the bank has stepped up security at all office locations since the attempted attack on the Bank of America.

According to reports, police have prevented two suspects from placing improvised explosive devices at the Bank of America office on Rue de Poitevins in Paris, and four people have been arrested so far. French prosecutors have launched a formal investigation into four men, three of whom are between 16 and 17 years old.

The prosecutors allege that an adult suspect is accused of inciting the above minors to go to the scene to detonate a burning device and record the incident, with payment of 500 to 1,000 euros. The three minors tried to set up explosive devices on the night of Thursday to Friday last week but stopped the action because there were police cars nearby. The following night, two of them returned again; one was caught on the spot by police, while the other initially escaped.

French police and security authorities have been on high alert since late March. The trigger was an emerging group calling itself “Ashab al-Yamin,” which posted videos on social media calling for attacks on European and French Jewish communities and business institutions, with the Bank of America’s Paris office explicitly singled out. French officials said that, combined with Ashab al-Yamin’s statement and similar recent attacks targeting Jewish organizations in places such as London and Liège, they believe the incident may be linked to Iran. The counterterrorism prosecutor and police are still continuing their investigation.

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