UBS is appointing a new head of diversity as Carolanne Minashi leaves, finews.com has learned. The Swiss bank is taking the opportunity to lend more weight to the role.
Zurich-based UBS is naming Cicilia Wan its global head for diversity, equity, and inclusion, effective March 1, according to a memo excerpt seen by finews.asia. Wan, who UBS poached 14 months ago, will add the job to her current role as head of employee relations.
She replaces Carolanne Minashi, who leaves at the end of March to pursue ot' er opportunities, UBS' human resources boss Stefan Seiler wrote in the memo. Wan's role represents a beefed-up version to that of Minashi, who held the job for five years.
Straighter Line
For one, Wan is adding the word «equity» to Minashi's title. Wan will report directly to Seiler, who according to Swiss press now reports directly to CEO Ralph Hamers following the elevation of operating chief Sabine Keller-Busse.
Wan, who was brought in to beef up following a rape case, will continue to be based in London. Besides the rape case, settled seven months ago, UBS also saw a fissure with many of its working mothers blow open during Minashi's tenure.
J.P. Morgan Veteran
Wan, who is a lawyer, was a veteran of J.P. Morgan before joining the Swiss bank: she has worked in London, New York, and Hong Kong, including as the U.S. bank's head of employee relations after holding the same role in the Asia-Pacific region.
«Together with Cicilia Wan’s expertise and experience in international leadership roles across the financial service industry, I’m convinced that she’s very well positioned to take our Diversity, Equity and Inclusion strategy forward, in close alignment with UBS’s business strategy,» Seiler wrote.
