Work-life balance is a key driver for many prospective bankers choosing an employer, especially those seeking to build a family. J.P. Morgan Private Bank’s Asia CEO Harshika Patel spoke to finews.asia about her experience being hired while having her first child.
Throughout Asia’s private banking industry, females make up more than half the workforce at many firms. Examples include players like Indosuez Wealth Management (60 percent) or Bank of Singapore (55.3 percent). Naturally, this makes it advantageous for employers to create favorable environments for women seeking to build a family in order to attract and retain talent.
«J.P. Morgan hired me [in 2013] when I was pregnant with my first child,» said Harshika Patel, the US lender’s Asia private banking CEO and Hong Kong CEO, in an interview with finews.asia. «The tone is set at the very top, where we have women role models who are striking a balance with parenthood and family care.»
Employee Focus Groups
According to Patel, the US bank has employee focus groups that support workers on all types of subjects such as guidance on career trajectories or personal aspirations.
«Work-life balance is an important factor within these groups, and helps build long and rewarding careers,» she said, highlighting initiatives such as the «Working Families Network» which aims to find an equilibrium between professional and family life.
From the Very Top
In a recent article by finews.asia, multiple top private bankers stressed that while the ratio of men and women in the industry is near or even above parity, this is not the case for leadership positions. At J.P. Morgan, Patel noted that the opposite scenario was playing out.
«All of our global businesses – Commercial & Investment Bank, Community & Consumer Banking as well as Asset & Wealth Management – are led by women,» she said, referring to top executives Jennifer Piepszak, Marianne Lake and Mary Callahan Erdoes, respectively. «Working for a bank that walks the talk on diversity and equality is also highly motivating.»
