Deutsche Bank CEO Defends DEI Initiatives Amid Criticism
Christian Sewing, CEO of Deutsche Bank AG, has joined the chorus of top executives at JPMorgan Chase & Co. and Goldman Sachs Group Inc. in defending diversity, equity, and inclusion (DEI) programs.
During a press conference following the release of the bank's fourth-quarter results, Sewing emphasized the "integral" role DEI plays in Deutsche Bank's strategy. "We are now firmly behind this program," he stated, citing the benefits the bank has witnessed as a result of its implementation.
The defense of DEI comes amid mounting opposition from corporations, such as Meta Platforms Inc. and Walmart Inc., and the Trump administration, which has labeled such programs as "radical" and "wasteful." However, Sewing and other prominent CEOs have taken a defiant stance, vowing to prioritize DEI.
Sewing expressed his belief that DEI programs enhance Deutsche Bank's ability to achieve superior results. "I know what diversity has brought us on the management board at the top reporting level," he said. "That's why we are strong supporters of these programs."
Additionally, Sewing reaffirmed Deutsche Bank's commitment to its sustainable finance targets. He acknowledged that regulatory changes could necessitate a review of the bank's position, but emphasized that DEI and sustainability remain core components of its strategy. "Both issues are an integral part of Deutsche Bank's strategy," he concluded.