Awards for Distinction 2014 – Diversity Issues


AFD2014_Best Private Bank - Diversity Issues

Deutsche Asset & Wealth Management

Kin-Mun Kwong

Kin-Mun Kwong
Head of Wealth Management Coverage, Southeast Asia
Deutsche Asset & Wealth Management

While diversity has not historically been at the forefront of Asian private banks’ priorities, it is growing in stature for many. A fair workplace, offering equal opportunities, is an important part of running any business, but in an industry built around service it becomes a fundamental necessity. The positive effects of supportive hiring and progression schemes, which promote inclusion in the office, are well-documented from a commercial perspective. It is for these and more principled reasons that private banks are further developing schemes to increase and support diversity for their employees.

Deutsche Asset & Wealth Management (Deutsche AWM), the deserving winner of this year’s award for Best Private Bank – Diversity Issues, has made a conscious, consistent, and tangible firm-wide commitment to supporting all of its employees irrespective of gender, race, or sexual orientation. In doing so, it has been guided not by the minimum required for compliance with the law but by an unfeigned respect for its employees as individuals rather than as cogs in a wheel.

Diversity initiatives at the bank are driven on a regional, rather than divisional, basis. Hence, Deutsche AWM is a beneficiary of all Deutsche Bank’s regional diversity programs. Within this framework, Kin-Mun Kwong, Head of Wealth Management Coverage, Southeast Asia, and business and country representative of the German lender’s APAC Diversity Council, drives the implementation of all diversity-supportive initiatives from the frontlines. Supporting the Diversity Council is a community of Employee Network Groups, which globally ensures all employees at Deutsche Bank can “[go] to work and be themselves”, secure in the knowledge that the bank’s most senior leaders will act as mentors and guides.

Furthermore, institutionalised support is available for employees in the form of several networks. dbWomen is responsible for the targeted recruitment and support of women employees at the bank; dbEnable focusses on the issues and opportunities faced by people who are directly or indirectly affected by a disability; dbPride ensures an inclusive work environment for lesbian, gay, bisexual, and transgender (LGBT) employees and their allies at the bank; and dbFamily provides parents, caregivers, and parents-to-be with the reinforcement they need to strike a healthy work-life balance.

This comprehensive and deep-rooted commitment to promoting diversity in the workplace underscores the seriousness with which Deutsche Asset & Wealth Management treats the issue, and accordingly the private bank has distinguished itself as the winner of the award for Best Private Bank – Diversity Issues in 2014.