Race & Ethnicity

We have a number of cultural, race and ethnicity-focused employee networks across the firm. In particular, MOSAIC appeals to employees of many different heritages who are interested in growing professionally through training, career development and networking opportunities, and seeks to enhance the experiences of employees from diverse ethnic backgrounds by engaging them in shaping an inclusive organization.

In 2020 Race & Ethnicity were extended to our global agenda. With 19 Actions being committed to at board level, which come under the following categories:

  • Accountability and transparency
  • Investing in Ethnic Minorities
  • Improving the culture
  • Leverage UBS core strengths

At a global level our trainings are being updated to include education and awareness with race and ethnicity embedded.

A reminder for us all: Sergio Ermotti addresses the role UBS has to combat systemic racism globally;

There are a number of these actions, where implementation happens at a regional level see below:

Race and ethnicity was added to the D&I priorities for the UK in 2016, where we ran a number of focus groups to understand the areas in which we needed to improve. As a result we launched the Mosaic network and initiated reverse mentoring for our senior leaders. In 2019 we signed the Race at Work Charter, showing our commitment to attracting and retaining a diverse workforce and started our journey on data collection. We are currently at 66% disclosure as of July 2020.

Race Colour

Race Colour

Percentage

Percentage

Race Colour

White

Percentage

60%

Race Colour

Asian

Percentage

23%

Race Colour

Black

Percentage

4%

Race Colour

Two or more Races

Percentage

4%

Race Colour

Other

Percentage

2%

“While we continue to work towards a higher disclosure rate, in September 2020, UK aspirations to grow our BAME senior leader headcount by 40% by the end of 2025, increasing our Black senior headcount by 80%. We plan to achieve this by a number of different actions, aligned to the key themes defined by our board – notably, through mentoring, senior exposure of our BAME talent and hiring processes”

In early 2021, this will be supplemented with a UK D&I Impact Report to mirror that of the US.

Through the first half of 2020, a number of listening sessions were held to understand our BAME (Black, Asian and Minority Ethnic) workforce and better educate our colleagues on race in society.

Our Mosaic network also run a fully coached sponsorship program and partner with our Executive Committee for reverse mentoring.

From a hiring perspective we partner with RARE Recruitment who support us with events and advertise our roles directly. We annually hold a Black Heritage Insight Day within our Investment Bank and we work closely with universities whose student intake is of a higher BAME percentage.

In light of COVID-19, where so much has taken place virtually, we are identifying opportunities to extend Mosaic membership across EMEA.

In the US, we work closely with organizations such as Jopwell, SEO (Sponsors for Education Opportunity), NASP (National Association for Securities Professionals), and ALPFA(Association of Latino Professionals for America) to understand the needs and interests of racially and ethnically diverse talent from college to professional level with a goal of attracting, developing and retaining best-in-class underrepresented talent, across many disciplines.

Also in 2019, we kicked off our Multicultural Senior Talent Dinners with Asian American, Black/African American and Hispanic/Latinx colleagues. These dinners serve as networking opportunities and forums for diverse talent in the Americas to connect with senior leadership and share their experiences and ideas for creating a more inclusive firm.

In 2020, we hosted our flagship Black History Month event, during which we discussed Being Black in Corporate America, a groundbreaking report by the Center for Talent Innovation (CTI) that explores the different ways that Black professionals view, shape and perceive their professional journeys and experiences. Additionally, we’ve actively been addressing the ongoing fight against racial injustice head-on. Many of our senior leaders, including Sergio Ermotti, UBS Chief Executive Officer and Tom Naratil, Co-President UBS Global Wealth Management and President UBS Americas, have publicly addressed this important topic. We have also made significant changes to our D&I recruiting, promotion, and retention strategies, and we have worked closely with MOSAIC, our firm’s cultural heritage employee network in the Americas, as they’ve hosted powerful and engaging “Real Talk” events during which both UBS employees and external speakers are encouraged to share how systemic racism has impacted them both in and outside of the workplace. To learn more about our progress from our leader read here:

In Switzerland, the MOSAIC-Switzerland network was formed in 2019, focusing on promoting, supporting and celebrating the rich ethnic diversity across UBS in Switzerland through awareness & education, community & engagement, coaching & mentorship. Since its formation, MOSAIC-Switzerland has been connected with our external partner Catalyst and continuously works on driving impact, business strategy and employee network leadership.

MOSAIC-Switzerland collaborates closely with HR and the Diversity and Inclusion team, other functions and employee network groups across UBS. Examples of this include working with Junior Talent to increase ethnic representation at UBS to attract more diverse candidates and partnering with Community Affairs and Powercoders to support impactful engagement with refugees and migrants. Powercoders is a partner organization of UBS that is dedicated to the empowerment and integration of refugees and migrants by developing their coding skills and providing support in finding a job. Members of MOSAIC-Switzerland had the chance to support refugees by helping them to prepare for interviews and gain confidence by demonstrating that there are many more similarities that unite us, than differences that divide us.

In June MOSAIC-Switzerland hosted "A time for solidarity", providing all UBS employees in Switzerland with a forum to share personal experiences and feelings about racial inequality and discrimination. Following this event, MOSAIC-Switzerland partnered with the Pride networks to offer a session on how to become an effective ally. Furthermore, following feedback received and focusing on providing employees with a safe space to share their personal stories and challenges, MOSAIC-Switzerland offered three further opportunities for employees to connect in smaller forums in July.

Going forward, there are three focus areas for improvement that are core to UBS’ efforts toward ensuring we have a more diverse and inclusive workforce in Switzerland.

  1. Accountability and transparency: Following in the footsteps of the US and UK, Switzerland is actively exploring ways to capture ethnicity data that is required to assess both the current situation as well as monitor progress on increasing ethnic diversity in all areas and at all levels within UBS.
  2. Investing in our ethnic minority population: Efforts are underway to improve the processes relating to recruitment, mentoring and career progression of ethnic minority talent at UBS and to ensure ethnic diversity is increasingly represented in senior committees.
  3. Improving the culture and focus on race and ethnicity awareness and implications: To increase the awareness and understanding of ethnicity challenges in Switzerland, racial awareness and understanding will feature more prominently within education modules.

The Cultural Awareness Network in Poland is an employee network, which aims to promote the firm’s Diversity and Inclusion values of cross-cultural collaboration and support. As there are over 60 nationalities in UBS Poland, which makes it one of the most diverse UBS location, the integration of employees has always been a high priority. This is why the network’s vision is more than ever to ensure that all employees feel equally respected regardless of their origin.

CAN Poland puts its vision in practice by offering UBS employees trainings, workshops, shadowing sessions and discussions on intercultural communication to be more open and efficient in the way they communicate with colleagues. Over 600 CAN Poland participants support employees from foreign countries to settle in Poland by helping with administrative matters and providing practical tips and tools to make one’s stay easy and fulfilling.

CAN Poland partners with the other UBS CAN and MOSAIC networks and joins UBS' effort against racism by relaying and promoting the initiatives led by the networks worldwide as well as by raising awareness on the challenges some employees might be facing.

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