2018 Winners – Distinction
Employer of the Year
Goldman Sachs Private Wealth Management, a serial winner of Asian Private Banker’s Employer of the Year award, has once again demonstrated its commitment to fostering an environment and culture that is both conducive to employee satisfaction and sensitive to employee diversity.
The firm’s employment strategy rests on the thesis that a happy, well-guided workforce ultimately leads to happy, well-guided clients. The Judging Panel agrees. Beyond the progress Goldman Sachs has made in recent years in terms of tapping a wider pool of candidates using digital means, the bank in 2018 overhauled its ‘Global Diversity Committee’, which reports directly to global CEO David Solomon, and whose drive has coincided with an unprecedented level of diversity within Goldman Sachs Private Wealth Management’s regional business. Indeed, last year, 40% of individuals who were promoted to partner in Asia were female and over half of the division’s regional headcount consisted of women.
To train its expansive employee base, Goldman Sachs has put in place targeted initiatives to build competencies and enhance collaboration. Highlighted programmes in 2018 include the Private Wealth Advisor (PWA) Acceleration Initiative, which provides advisors with coaching relevant to their career stage, and the Asia Pacific PWA Conference, which brings together the firm’s regional PWAs to share best business practices. In addition, Goldman Sachs introduced the GS Accelerate programme last year to provide staff a channel to explore and develop ideas that will result in best-in-class innovations for both clients and the firm. By incubating these insourced ideas, the firm aims to provide staff with a powerful means to express themselves entrepreneurially.
Recognising the importance of its staff’s well-being, the firm also imbues its conferences with topics on how to handle adversity and uphold a healthy work-life balance. Of note is its introduction of ‘meQuilibrium’ — a platform built to measurably improve employees’ lives through the imbuement of resilience — and ongoing benefits that create a safe and supportive environment for individuals with familial responsibilities.
With a mindset firmly placed on creating the best work conditions, Goldman Sachs has continued to impress by showing tremendous amounts of care for its employees.
Goldman Sachs is Asian Private Banker’s Employer of the Year for 2018.