Deutsche Bank ‘must hire 50% women to meet targets’

Deutsche Bank must give women around 50 per cent of vacant senior management roles to meet its 2025 target, according to The Financial Times (FT)

The German lender has recently committed to increasing the share of women across its 600 most senior executive jobs to at least 30 per cent by the end of 2025. As it stands, women make up only 24 per cent of executive roles.

Because only a limited number of these high level positions become available every year, the organisation’s target can only be met if Deutsche Bank chooses women candidates in half of the vacancies, the FT said.

“Greater diversity among senior executives is a business necessity for us,” Deutsche’s global head of human resources Michael Ilgner told the newspaper. “This will make us stronger as there is plenty of evidence that more diverse teams achieve better results and adjust faster to a changing environment.”

Although Ilgener did not comment on the estimate it said that the new gender scheme would not change individual hiring decisions.

“We will of course choose the candidate who is best suited for a position,” he said. “We don’t want to make any compromise on quality.”

The bank has also recently announced targets to increase the share of women staff in middle management from 29 per cent to 35 per cent in the next four years.

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