(MENAFN- Saudi Press Agency)
LONDON/NEW YORK, Jumada I 1, 1437, Feb 10, 2016, SPA - Swiss bank UBS AG is looking at the relative pay of men and women in its investment banking arm as part of its compensation review, and is taking steps to close any significant gaps, sources familiar with the matter said.
The move comes as UBS, along with other Wall Street banks, looks to curb the high number of female employees who leave.
Reuters reported on Tuesday that the Swiss bank was freezing pay across its investment bank, pending a review in the second quarter of the year. [ID: nL8N15O3FE]
That will include a look at the role diversity plays in the bank, amongst other factors including market volatility, the geographical spread of staff, and performance, sources said.
UBS managers are being instructed to ensure that female employees are paid in line with male counterparts, and to make sure any discrepancies are addressed, the sources said, speaking on condition of anonymity.
The push also extends to hiring a greater number of female employees, the people added.
A UBS spokesman declined to comment on the bank's compensation strategy.
- SPA
20:35 LOCAL TIME 17:35 GMT
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