Equal opportunities for employees. Global diversity and inclusion.
Having a diverse workforce contributes to wide-ranging expertise, creates broad networks and fosters an inclusive and open corporate culture. This helps us deliver high-quality products and services to our clients. And to work together effectively across the bank.
Celebrating LGBT Pride
During June and July we were recognizing and celebrating LGBT Pride with our employees and local communities. As many of our colleagues around the world joined in Lesbian, Gay, Bisexual and Transgender (LGBT) Pride celebrations, Antoinette Poschung, Global Head of Human Resources spoke with Adrian Köstli, International Wealth Management and LGBT & Ally Network committee member. The two talked about the importance of employees feeling comfortable to bring their whole identity to work. They also discussed the role of LGBT allies and how we are creating an ever more diverse and inclusive workplace at Credit Suisse.
The Credit Suisse Hong Kong LGBT Open Network was recently awarded LGBT+ Network 2019 winner. In addition, we achieved the Gold Standard once again in the Community Business LGBT+ Inclusion Index, ranking 8th for our ongoing commitment to diversity and inclusion. Watch the video to learn more:
Approach and Strategy
To deliver high-quality products and services to our clients and to work together effectively across the bank, we require employees with different mindsets and wide-ranging experience. The diversity of our workforce provides us with a better understanding of client needs, cultural aspects and regional markets. We believe that it also opens up a broader range of business opportunities for our company.
As a responsible employer, we are committed to providing and promoting equal opportunities, regardless of ethnicity, nationality, gender, sexual orientation, gender identity, religion, age, civil or marital status, pregnancy, disability, or any other characteristics protected by law.
An Integral Part of Our Corporate Strategy
Our internal experts work closely with our businesses across the globe to ensure that a diversity and inclusion framework is firmly embedded in our corporate culture. They partner with managers on the planning and implementation of initiatives to promote an inclusive working environment. We also consider it important to engage in a dialogue with external partners in the area of diversity and inclusion.
Support Programs and Mentoring
Promoting equal opportunities for women remains a key topic at Credit Suisse. In 2018, women accounted for 36% of our total workforce and 21% of our senior leadership (Directors and Managing Directors). We want to further increase the proportion of women in specialist and management positions within the bank. Furthermore we run programs to attract talented female professionals to our company.
2018 marked the fifth year of Real Returns, an initiative launched in 2014 in the US and then extended to the UK, Switzerland and Asia Pacific, that gives talented and experienced professionals who have taken an extended career break the opportunity to transition back into the workplace through a structured program. Real Returns enables participants to leverage their professional skills and networking capabilities through a program that combines challenging project work, training, mentoring and new networking opportunities. The program runs for approximately 12 weeks, and has seen the participation of 295 professionals in 17 classes since its launch. Over 60% of participants subsequently obtained a permanent position at Credit Suisse.
Our efforts to promote women within our company include a variety of mentoring offerings and training programs designed specifically for women. Here are a few of our current mentoring offerings:
- Switzerland: A total of 125 women began a one-year cross-divisional mentoring program. 70 employees from across the organization joined the 5th cycle of the Generational Mentoring Program.
- Americas: A program was launched where senior leader acted as mentors for selected high potential diverse talents.
Women in Finance Charter
Credit Suisse first signed the Women in Finance Charter in June 2016. Together with over 330 other financial services organisations in the UK, we have pledged to support the progression of women into senior roles across the UK Legal Entities.
The Executive Committees of the UK Legal Entities, and the leadership teams of each respective Executive Committee member, will aim for a minimum of 35% female representation by 2020. As of August 2019, we exceed this target on an aggregate with over three-quarters of committees achieving this already. Therefore we believe we are on track for our overall target for 2020.
Our commitment to the Charter builds on existing Credit Suisse initiatives designed to improve gender equality across our organisation. These initiatives include an annual strategic review of gender across all divisions and functions; using technology to reduce potential unconscious bias in our recruitment process; our high-profile Real Returns hiring program; Parental Transition Coaching for employees departing for, or returning from, parental leave; enabling flexible working; and encouraging networking, personal and professional development through our active EMEA Women's Network and award-winning Women Connect initiative.
Global Employee Networks
Credit Suisse supports multiple internal employee networks worldwide that serve as a platform for the exchange of knowledge and experience, thus fostering mutual understanding and helping to strengthen our corporate culture.
These networks – which are run by employees on a voluntary basis – are dedicated to women, families, lesbians, gay, bisexual and transgender individuals (LGBT), people with disabilities, US veterans, the older and younger generation, and employees from various ethnic backgrounds. In 2018, these networks organized more than 370 events worldwide.
Awards and Partnerships
As part of Credit Suisse's continuing commitment to gender equality, we are proud to be included in the Bloomberg Gender-Equality Index for 2020.
In addition, our commitment to diversity and inclusion, as well as the promotion of a tolerant and non-discriminatory workplace, has garnered awards from numerous organizations.
Current examples are:
- Switzerland: First Place in the Diversity Index; Swiss LGBTI Label
- France: Credit Suisse Securities (Europe) Limited, Paris Branch achieved a score of 81 out of 100 for its first calculation of the Gender Equality Index that is entering in force for companies between 50 and 250 employees as of March 1st, 2020. This index is one of the key measures implemented by the French Government in its fight for gender equality. Companies are expected to reach a minimum score of 75 points. Credit Suisse Securities (Europe) Limited, Paris Branch's good score reflects the bank's strong commitment in the field of gender equality, diversity and inclusion. Credit Suisse Securities (Europe) Limited, Paris Branch also holds the Diversity label delivered by AFNOR.
- US: Asia Society Best Practices awards: Employee Resource Group, Employee Growth & Advancement, Leadership Development (2018); the 14th consecutive year of achieving the maximum score in the Corporate Equality Index published annually by the Human Rights Campaign that assesses the performance of 500 companies in recognizing the LGBT rights of employees, consumers and investors
- India: Credit Suisse was selected as a 2018 Working Mother & AVTAR 100 Best Company for Women in India for the third year in a row (October 2018) and also was awarded "Excellence in Gender Diversity" and NASSCOM India's Global Capability Centre's 2018 Awards conclave.
- Hong Kong SAR, China: Credit Suisse in Hong Kong and Legal Partner Davis Polk and Wardwell LLP have received the Diversity & Inclusion Collaboration award in the Diversity and Inclusion Asia Network (DIAN) Decade Awards recognizing their advocating LGBT equality in Hong Kong for same sex partners immigration statuses.
- Hong Kong SAR, China: 2019 LGBT+ Network Award at the Community Business LGBT+ Inclusion Index Awards; The accolade for the best LGBT+ Network 2019 in the Community Business LGBT+ Inclusion Index Awards reflected our firm commitment to Hong Kong LGBT+ employees. This was demonstrated through a series of initiatives, ranging from our successful "Let's Talk About Sex" parenting workshop to our #SustainablePride campaign.
- Hong Kong SAR, China: Gold Standard for 2019 Community Business LGBT+ Inclusion Index; Credit Suisse (Hong Kong) Limited achieved a Gold Standard for the second time in the Community Business LGBT+ Inclusion Index, ranking 8th overall among Hong Kong SAR, China corporates. These results are a testament to our ongoing commitment to ensuring an inclusive workplace, in which all employees are given equal opportunities, treated fairly and can be themselves.
- UK: Stonewall Workplace Equality Index: Top 100 Employer for the 2nd consecutive year (2017 and 2018)
Furthermore, several Credit Suisse employees have been recognized for the role they play in promoting diversity into the workplace and in the society:
- British LGBT Awards: LGBT+ Inspirational Leader: Pips Bunce
- Brummell’s Inspirational Women 2018: Nicola Phillips'
- FN100 Most Influential Women in Finance: Laura Barrowman and Marisa Drew
- FT HERoes Champions of Women in Business 2018: Laura Barrowman and Pips Bunce
- Outstanding LGBT+ Executives: David Mathers, David Finlayson and Pips Bunce
- WeAreTechWomen’s 2018 TechWomen100: Apinya Medina, Chanelle Pereira, Helen Redfern, Mathangi Vikranth and Prachi Agrawal
- Women in Banking and Finance Awards for Achievement 2018: Champion for Women: Tracy Watkinson
- Women in Banking and Finance Awards for Achievement 2018: Team Diversity Award: Lisa London and Tanya Bhairo for Women Connect
Partnerships: Fostering a Dialogue, Learning from Others
As a partner for a variety of organizations, we promote an open dialogue on the topics of diversity and inclusion. The partnerships present us with an opportunity to exchange opinions and experiences and they help us to further develop our internal practice.
In 2018, we lent our support to a number of associations and events, as e.g.:
- Center for Talent Innovation and Catalyst, which aim to build inclusive environments and expand opportunities for women
- "Women in Banking & Finance" and "Women on Boards" in the UK, supporting networking and career development programs for women.
- Partnership with the University of St. Gallen/Switzerland on the Diversity Benchmark Study for Banks and Insurances in Switzerland.
- Partnership with the University of Lucerne of Applied Sciences and Arts on the topic "Generation Management"
Currently in Asia, Credit Suisse is a sponsor of:
- Women in Finance Asia (WiFA), an association that provides men and women in the financial services industry with the tools, resources and networks to develop and grow their professional careers. This is part of Credit Suisse's commitment to making progress on our diversity initiatives in order to ensure we can offer an inclusive workplace for all.
- Financial Women's Association Singapore, an association that aims to drive professionalism in the financial sector, with special emphasis on the role of women and the development of future leaders.
- The Women's Foundation Hong Kong, a non-profit organization dedicated to improving the lives of women and girls in Hong Kong SAR, China.
- TEDxTinHauWomen, a TEDX event exploring the theme of "Showing Up Now" and what this means for women in today's world.
- Hong Kong SAR (China) participation in Paris 2018 Gay Games and successfully bidding for hosting the Gay Games in Hong Kong SAR, China in 2022.
- HK Pride Parade, a non-profit organization that has created an open platform for LGBT groups and organizations to show themselves to the world and to advocate for diversity and inclusion.
- Pink Dot HK, the largest LGBT+ annual event in Hong Kong SAR (China) since 2014, for LGBT+ and their allies, families, friends and colleagues in support of diversity and equality.
- Pink Season HK, Asia's Premier LGBT Festival, organized by Pink Alliance, a charitable institution promoting equal rights for LGBTI people through lobbying, education and campaigns.
- AIDS Walk 2018 by the Society for AIDS Care.
We are also a member of Community Business Diversity and Inclusion in Asia Network (DIAN), a leading network for companies and professionals committed to advancing diversity and inclusion in the Asia Pacific region.
In addition to these sponsorships, the employee networks in Asia have supported more than 30 charities and associations through their activities: ACRES, ACTS Market, All Things Felt, Angels of Impact, Association for Persons with Special Needs, Care Corner, Children Aid Society, Children’s Wishing Well, Deaf Arts Craftsy, Dignity Kitchen, Dover Hospice, Dress for Success, Fair Employment Foundation, Female Entrepreneurs Worldwide, Food Angel, Friends of Disabled Society , Hands of Hope Asia, HCA Hospice Care, Maher, Make-a-Wish Foundation, Muscular Dystrophy Association Singapore, MustardSky, Pathlight, Plan International HK, Seva Sahayog, Singapore Cancer Society, Teach for All, The Big Knit, The Village Source and Very Special Arts.