UBS Sets Up Diversity Focused Investment Team
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UBS has created a new unit dedicated to diversity and inclusion. Switzerland’s largest bank has created a new wealth management unit aimed at mobilizing client funds to offer investments that promote equality and expand outcomes for underrepresented or marginalized groups, according to a report.
Karen Sunderam will lead the group from New York. According to her LinkedIn profile, she has been with UBS for nearly five years and has been the head of inclusive investing solutions since May last year.
By responding to client requests for investment options that reflect personal values and are aimed at social good, UBS will offer clients opportunities to channel their money to firms at least partly owned by minorities. This also includes products led by portfolio managers who self-identify as racial or ethnic minorities, women, veterans, disabled and LGBTQ, «Bloomberg» reported.
Under CEO Ralph Hamers, UBS has dedicated itself to the «purpose» of reinventing investing and connecting people for a better world. Head of sustainability Michael Baldinger was tasked in May 2021 with weaving these threads across the group and advancing diversity.
Questions & Answers
Q.What is the primary objective of this new UBS unit?
What is the primary objective of this new UBS unit?
The new wealth management unit aims to mobilise client funds for investments that promote equality and broaden opportunities for underrepresented or marginalised groups. It responds to client requests for investments reflecting personal values and social good.
Q.Who will be leading this new diversity-focused investment team?
Who will be leading this new diversity-focused investment team?
Karen Sunderam will lead the group from New York. She has been with UBS for nearly five years and has held the position of head of inclusive investing solutions since May of last year.
Q.What types of investment opportunities will be offered through this new unit?
What types of investment opportunities will be offered through this new unit?
UBS will offer clients chances to channel money into firms partly owned by minorities. This also includes products managed by portfolio managers who identify as racial or ethnic minorities, women, veterans, disabled, or LGBTQ.