1,100 creatives call on London theatre to cut ties with Barclays over links to Israel arms

Over 1,100 arts professionals have called on London’s premier dance theatre Sadler’s Wells to end its funding relationship with Barclays due to the bank’s significant investments in companies involved in the Israeli arms trade.

In an open letter, which is due to be delivered to the theatre this evening, the artists demand “Sadler’s Wells cut ties with Barclays, remove Nigel Higgins from the board, and engage in discussions on ethical funding.” Higgins sits as chair on Sadler’s Wells’ board of trustees. He is also Barclays Bank’s Group chairman and chairman of Barclays Bank PLC.

Highlighting that the theatre hosted a fundraiser for the Ukraine Humanitarian Appeal, the artists say they “cannot ignore its role in providing cover for Barclays’ egregious complicity in Israel’s genocide in Palestine.”

“As in the struggle against apartheid in South Africa, we strongly believe that artists and cultural institutions have an ethical duty to end complicity in oppression. We call on Sadler’s Wells to join us in recognising its own place in history.”

Actor Maxine Peake is among the 1,109 creatives who have signed the letter.

A report released in May found that Barclays now holds over £2 billion ($2.5 billion) in shares of companies whose weapons, components and military technology have been used in violence against Palestinians by Israel. Barclays also provides over £6.1 billion ($7.6 billion) in loans and underwriting to these arms and military technology companies. This includes holding £2.7 million ($3.36 million) in Elbit Systems, which supplies the Israeli military with armoured drones, munitions and artillery weapons used in its attacks in Gaza.

In response to MEMO’s request for comment, Barclays pointed to a Q&A on its website which says “Barclays has been the subject of criticism in relation to Gaza based on two arguments: that Barclays is an investor in these businesses, and that we provide a range of financial services to clients which produce equipment used by the Israeli Defence Force.”

“We have been asked why we invest in nine defence companies supplying Israel, but this mistakes what we do. We trade in shares of listed companies in response to client instruction or demand and that may result in us holding shares. We are not making investments for Barclays and Barclays is not a “shareholder” or “investor” in that sense in relation to these companies.”

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