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UBS releases diversity figures for American staff


Arhama AltafWeb Editor

25th Feb, 2020. 09:55 am
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UBS

UBS Group AG said that 38pc of its employees in the Americas at the end of last year were women and 25pc were people of color.

The UBS Group added that it aims to increase the diversity of its workforce.

While diversity was greater in hiring – with 42pc of recruits being female and 38pc non-white – it declined for promotions.

A third of those promoted were women, while only 21pc were people of color, UBS said in a report.

UBS aims to achieve 50pc diversity in hiring, promotion and retention in the Americas, it said, without setting a timeline.

It described the goal as “aspirational.”

UBS’ disclosures come as banks and other large corporations come under pressure from governments and investors to employ more diverse staff, particularly at senior levels.

Women account for 20pc of executive committee members in major financial services companies globally.

While, only 6pc of CEOs are female, according to research by management consultancy Oliver Wyman.

While banks have amped up their rhetoric on the importance of diversity, few voluntarily disclose detailed workforce figures.

In the UK, banks publish annual gender pay gap figures because of local disclosure rules.

The UBS report listed initiatives the bank has undertaken over the past few years to improve diversity.

Such as requiring external recruiting agencies to deliver multiple diverse candidates for open roles.

The Swiss bank employed 21,309 people in the Americas in 2018, roughly a third of its global workforce.

Around 39pc of its staff globally is female, it said in its 2018 annual report.

Only two of its 13 executive board members are women, and two are non-white.

Last week it named Dutch banker Ralph Hamers as CEO.

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