Race & ethnicity

We have several 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. It seeks to enhance the experiences of employees from diverse ethnic backgrounds by engaging them in shaping an inclusive organization. Our MOSAIC committees around the world also partner closely with leadership to ensure we’re well positioned to hire, develop and retain our ethnically diverse workforce.

Race and ethnicity was first highlighted in our DE&I priorities for the UK in 2016, where we ran several 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 81% disclosure as of August 2021.

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 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. 

In Switzerland, 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.

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.