Deutsche Bank presently has about 600 senior executives, with only about 24 per cent of them being women. Now, the German lender, is aiming to ensure that this number goes up to 30 per cent in five years’ time.
To achieve its gender-diversity goals, and have more women in the senior ranks, the Bank will have to ensure that about 50 per cent of all the hires made for new senior positions are women. However, this will not affect the individual hiring decisions and the Bank will continue to go for candidates who are best suited for various roles.
The Bank believes that more women in its senior rungs will only make it a stronger entity, as diverse teams perform better and have the ability to adapt to changes faster. In 2018, there were only 18.1 per cent women at the managing director level, and this figure improved only marginally to 18.4 per cent in 2020, thanks to the COVID-19 related disruptions.
Due to the job cuts and organisational restructuring that had to be resorted to due to the pandemic, the Bank has been unable to achieve the gender goals that it had set for itself almost two years ago, even though it has been focusing on offering opportunities to women, especially freshers, for internship.
In Germany, as per the law, 30 per cent of all supervisory boards should consist of women, with at least one woman as management board member.