Zurich, 10 April 2019 – UBS is celebrating the contributions of women in economics with a dedicated website and a series of prestigious events. This program shines a light on quality research and policy-making from women leaders in their field. UBS is working in partnership with the Centre for Economic Policy Research (CEPR).
"Women in Economics", at ubs.com/womenineconomics, will feature videos of prominent researchers discussing their work and insights. Adapted for social media, the content is designed to appeal to non-expert audiences, as well as those with a deeper understanding of economics. Beyond the digital content, the program will include events for students and economists.
The platform is similar to "Nobel Perspectives," where UBS has been documenting the lives and work of Nobel Prize-winning economists since 2015. Featuring interviews with 48 Nobel laureates to date, it has grown into the largest repository of digital content on award-winning economic theories. "Women in Economics" will complement this material with a focus on economists who are in the middle of their careers, but have already made a major impact on understanding of their topics, bringing fresh thinking and diverse perspectives to the field.
"This program is a great idea, and I am pleased and proud that UBS is launching it. It will not only recognize and pay tribute to the great female thinkers in economic research and policy-making, highlighting their achievements, but also inspire many young women to study economics and pursue a career in this field," said Dr. Wang Tao, Head of Asian Economic Research and Chief China Economist, UBS Investment Research.
Kicking off the series is Belgian economist Marianne Bertrand, the Chris P. Dialynas Distinguished Service Professor of Economics at the University of Chicago's Booth School of Business. Her many honors and awards include the Sherwin Rosen Prize in 2012 for her contributions to labor economics. She will be followed in May by Esther Duflo, the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology. Duflo's research on poverty in developing countries has earned her numerous awards, including a MacArthur Fellowship (more commonly known as the "genius grant") in 2009.
The featured researchers will be selected in partnership with the Centre for Economic Policy Research (CEPR), an independent, non-profit network of more than 1,300 economists. A jury of three CEPR representatives will oversee the selection process: Beatrice Weder di Mauro, a research professor who is the president of CEPR and a member of the UBS board of directors; Hélène Rey, CEPR’s vice-president and a professor of economics at London Business School; and Jean Tirole, the 2014 recipient of the Prize in Economic Sciences in Memory of Alfred Nobel.
"This initiative promotes the exceptional female researchers in economics from across the world. These women are making major contributions to the field and their work deserves to gain greater visibility. We hope that this initiative will inspire young aspiring talent to enter the economics profession," said Professor Dr. Weder di Mauro.
Diversity at UBS
Our global workforce is already diverse in many respects and we consider this a competitive strength. We are committed to further increasing diversity and ensuring an inclusive workplace, because both are key to achieving our goals. Since 2015, we have focused the majority of our D&I efforts on gender diversity. We are making progress on our stated aspiration to increase the ratio of women in senior management roles to one third, focusing our efforts on three pillars: Hire more, lose fewer, promote more. In 2016 UBS successfully launched its Career Comeback Program, aimed at professionals who have taken a career break for a minimum of two years. The program now hires participants in Switzerland, the US, the UK and India.
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group comprises our Corporate Center and four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets.
UBS is present in all major financial centers worldwide. It has offices in 50 countries, with about 31% of its employees working in the Americas, 32% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 18% in Asia Pacific. UBS Group AG employs approximately 67,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
The Centre for Economic Policy Research (CEPR) was founded in 1983 to enhance the quality of economic policy-making within Europe and beyond, by fostering high-quality, policy-relevant economic research, and disseminating it widely to decision makers in the public and private sectors. Drawing together the expertise of its Research Fellows and Affiliates, which number more than 1,300, CEPR initiates, funds and coordinates research activities and communicates the results quickly and effectively to decision makers around the world. The Centre is an independent, non-profit organization and takes no institutional policy positions.
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Paul Donovan, Chief Economist, UBS Global Wealth Management, said: "Although women have taken some high-profile economic roles in multinational organisations and central banks, the field still lacks diversity. Economists analyse and explain nearly all aspects of society – to do this analysis properly, the profession must better reflect the composition of society."
"It is indeed a fantastic project, promoting female economists globally. Female power is a key driver for world sustainable development and investment," said Yifan Hu, Regional Chief Investment Officer and Chief China Economist, UBS Global Wealth Management.
"We are proud to offer this space to the top women in a field so close to home. Our motivation is to foster ideas and promote the pursuit of STEM education and careers to girls and young women," said Hubertus Kuelps, Group Head of Communications & Branding at UBS.
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