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Diversity, Equity & Inclusion

Diversity, Equity & Inclusion is part of who we are. It is vital to the future of our business

As part of our ongoing commitment to improving lives and workplaces for all, Stuart White, CEO UK and Global Head of Strategy, is proud to be a judge of the inaugural TLC Lions Being Human Awards 2023. Find out more.

Proud to be a Judge

We are proud to join LGBT GreatLGBT Great

Stuart White

Stuart White named one of
2021 Global Top Executive Allies
by LGBT Great

Diversity is in our roots. HSBC was founded more than 150 years ago to finance trade between Europe and Asia. We have always brought different people and cultures together. As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people.

We want a connected workforce that reflects the communities where we operate and helps us meet the needs of customers from all walks of life. Different ideas and perspectives help us innovate, manage risk, and grow the business in a sustainable way.

Being inclusive is an expression of our values to be dependable, open and connected. We want HSBC to be a place where people are valued, respected and supported to achieve their potential – and we are striving to build an environment where people feel they can speak up to help us remove barriers to success, and collaborate to put the best ideas into practice.

“I believe we have a meaningful role to play to move forward and progress. Our active collaboration on various diversity and inclusion initiatives demonstrates our commitment to support and contribute towards a better, more diverse industry”

Stuart White, Chief Executive Officer, UK & International; and Global Head of Strategy

We are delighted to announce that Stuart White, UK CEO, Head of our DE&I committee and steering committee member of The Diversity Project - Investment Industry, has been named by LGBT Great as one of its 2021 Global Top 100 Executive Allies.

To achieve our DE&I ambition, recognising that equity and inclusion is global and diversity is more nuanced locally, we have identified four overarching objectives for HSBC Asset Management:

To increase awareness of different DE&I dimensions & unconscious biases across 100% of our workforce; and improve inclusive leadership behaviours

To increase the representation of women in senior roles, by also creating a larger pool of talent at lower levels

To increase the representation of key identified Minority Groups (Ethnicity, Disability, LGBTQI+) in senior roles, by also creating a larger pool of talent at lower levels

To apply these learnings for business commercialisation (e.g. enhancing DE&I criteria in ESG screening of investment opportunities; and the creation of specific DE&I thematic products for our clients).

Celine Tan

How I joined HBSC:

Pre-covid one of the biggest galas in the Hong Kong LGBT calendar was NGO, Community Business’ Annual LGBT Awards ceremony. Started in 2014, the evening celebrates LGBT inclusive companies and individuals who have moved the needle on making workplaces more inclusive. It was commonly dubbed Hong Kong’s “Gay Oscars”.  I looked forward to it every year and in 2016 had the pleasure of meeting then CEO of HSBC HK, Ms. Diana Cesar. Community Business Hong Kong LGBT+ (Inclusion) Index ranks employers on their inclusion practices and since inception, HSBC has always consistently been at the top 2.  The brief encounter left a deep impression on me because she was the first C-Suite of any major international bank to have graced the event. She sat at the HSBC sponsored table and stayed throughout. To see Ms. Cesar at the dinner validated in my mind the index’s findings. In 2017, when I was looking for a new career adventure I referenced past years’ indices and only considered firms which were consistently in the top 5. I used it as an objective barometer of the various companies’ culture. Later that year, I joined HSBC. I’m currently serving in Asset Management and am still enjoying my career journey with the bank. 

My journey through the financial services industry:

There has been a fair amount of challenge, which constantly made me feel like my straight friends’ careers were taking off from well paved runways and I was still paving my own in order to take flight. I’ve had well-meaning straight and closeted mentors in my younger years who advised me not to be as out as I was with the good intensions of expediting my career progression. There was a shortage of visible role models who were/are in my position of being out and progressed into management. Under those settings I built my career and became determined to better the industry around me.
16 years ago as a young professional starting out, LGBT inclusion awareness was at its infancy in Asia and there was a form of “don’t ask, don’t tell” within the banking corporate culture. I was desperately looking for a role model whom I could relate to or more importantly to provide me with some sense of security that being out at work will not (at best) limit my career or (at worse) end it prematurely. I spent years looking for “her” (an out senior lesbian executive; a beacon of hope) and eventually gave up. I decided that if I couldn’t find her, I will become “her”.

Since then, on top of my demanding day job I’ve always held down multiple “gay jobs” throughout my career. 

  • 2010 - founded and co-chaired the Goldman Sachs Singapore Pride
  • 2011 - co-chaired Credit Suisse Singapore’s Open Network in 2011 (which broke ground as the first few formal presences of LGBT+ ERGs in Singapore-based companies)
  • 2013-2017 -
    • Co-chaired HK LGBT Interbank Forum, a HK based banking association which rallied major banks and law firms to intervene in the same-sex spousal visa landmark case which was won in July 2018.
    • Fundraiser for the first Pink Dot Hong Kong in 2014.
    • Treasurer and establishing member of Outrunners HK (a sport group under the Federation of Gay Games)
    • Co-chaired J.P. Morgan’s APAC Pride which oversaw 7 local pride BRGs (Business Resource Group)
  • 2017-2021 -
    • founded and co-chaired Lesbians in Finance (LIF), an industry group which aims to support the careers of queer females and allies in the industry
    • Advisory Council of the HK LGBT Interbank Forum advising the newly elected co-chairs.
    • Senior Advisor to the HSBC HK Pride ERG co-chairs
    • Fundraiser for Hong Kong Marriage Equality (HKME) forum

It will be inauthentic if I say it hasn’t been at times an exhausting and stressful journey. Everyone wants change, but few want to lead it. I’m constantly presented with situations and problems most people will never have to grapple with or think about. But it has molded my character and I am stronger for it. On a personal level I get satisfaction leaving a positive legacy by improving the lives of others. On a professional level I’ve gained a wide network of business contacts and exposures I otherwise wouldn’t get in my day job (e.g. Media exposure, public speaking, selling an idea/ addressing objections, rallying people around a common cause, project managing, creating and being on an industry platform etc.). These are all important management skillsets I see as pluses so that when the next bigger challenge comes along, I’m ready.

Where to from here:

I’m currently focused on adding value to our Asset Management clients in the Liquidity space especially in this inflationary environment and look forward to supporting our colleagues who are launching innovative DE&I funds which will help further the global inclusion journey via impact investing. I’m also looking forward to taking more time for myself and continuing my personal development by enrolling for courses in B-schools in the coming year.

Shortlisted - Championing Social Mobility

Women in Investment awards

We partner with Investment Week to organise the awards, which have been created to showcase and celebrate women in the investment management industry. We proudly sponsored the Women in Investment Awards 2021 and had many colleagues shortlisted in 2021.

Congratulations to our winners and those who received recognition:

Joanna Munro
Investment Woman of the Year (large firms)

Joanna Munro, HSBC Asset Management

Stuart White
Mentor of the Year
Highly commended

Stuart White, HSBC Asset Management

Joanna Munro
Role Model of the Year

Joanna Munro, HSBC Asset Management

Fiona Chan
Most Inspiring Returner

Fiona Chan, HSBC Asset Management

Smera Ashraf
Distribution Woman of the Year
Highly commended

Smera Ashraf, HSBC Asset Management

Investment WeekHSBC Asset Management

HSBC Asset Management has been recognised for its DE&I work, winning the following awards:

  • One among four shortlisted for ‘Championing Social Mobility’ in the FTAdviser Diversity in Finance Awards 2022.
  • Kate Hassey has been included in ‘LGBT Great Top 100 Gamechangers 2022’Asia Investor Asset Management Award 2021 – Best Asset Manager for Diversity.
  • Insurance Asset Management Awards – Diversity Manager of the Year 2021.
  • Awarded an Advanced rating in the latest release of Morningstar’s ESG Commitment Level report.
  • Citywire Gender Diversity Awards 2021 – the Best Gender Representation award second year running.
  • Stuart White, Chief Executive Officer in the UK and HSBC Asset Management’s Global Head of Strategy, has been chosen as LGBT Great’s 2021 Global Top 100 Executive Allies. LGBT Great is a global membership organisation specialist in developing LGBT+ diversity and inclusion within the investment and savings industry.
  • Joanna Munro won Investment Week’s Women In Investment Awards 2021 for: 1) Role Model of the Year; & 2) Investment Woman of the Year for Larger Firms.
  • Fiona Chan, Senior Asset Management Compliance Manager, won Investment Week’s Women In Investment Awards 2021 for: Returner of the Year.
  • Smera Ashraf, Head of RBWM and Discretionary Distribution UK, was highly commended at Investment Week’s Women In Investment Awards 2021 for Distribution Woman of the Year.
  • Stuart White was highly commended at Investment Week’s Women In Investment Awards 2021 for Mentor of the Year.
  • Tim Roberts, Senior Customer Marketing Manager, named the Diversity Project’s Champion Award.
  • Joanna Munro, CEO HSBC Alternatives and Global CIO at the time, was featured in Financial News’ ‘100 Most Influential Women in European Finance 2020’ (behind paywall), and was also mentioned in Investment Week for her role in a cross-industry mentoring programme for senior black professionals in investment management.

We are proud to support The Diversity Project which is an industry-wide initiative whose purpose is to accelerate progress towards an inclusive culture in the investment profession.

Diversity Project Stuart White, Chief Executive Officer in the UK and HSBC Asset Management’s Global Head of Strategy is a member of the Diversity Project ( ), a UK based cross-company initiative championing a more inclusive culture within the savings and investment profession. Stuart is a member of the Diversity Project’s Advisory Board and CEO committee and an active spokesperson for better diversity, equity and inclusion in the asset management industry.
Employee Networks

Gender commitment

In 2018, as HSBC Group, we signed up to join the 30% Club, by reaching 30% women in senior leadership roles by 2020, and we achieved 30.3%. We have extended our aspirational target for women in senior leadership to achieve 35% by 2025. Indeed, female representation on HSBC Asset Management’s Global Leadership team is currently 33%, an increase of over 10% in the last 18 months (since our change in leadership at both CEO and CIO level). In fact, 9 of the 18 entity CEO’s across HSBC Asset Management are female, with six being appointed in 2021.

In 2021, we were the lead sponsor of an industry wide initiative with the Diversity Project and 10 other asset managers and investment consultant firms to better understand the current negative implications of taking ‘extended leave’ and particularly maternity leave on investment professionals’ career prospects, with the objective of finding solutions to improve the number of females in senior investment roles. We have a female CEO HSBC Alternatives and other women in senior decision making positions across the company, including the Global Head of Sustainability and Global Head of Compliance. Our overarching governance board, HSBC Asset Management Limited Board, has 29% female representation and we are working to equalise alignment in all HSBC Asset Management entity boards in the future. In Asia we have more than 20% female representation in decision making roles, as that market has historically been a source of greater opportunities for female fund managers and have female fund managers in Hong Kong, including our head of Greater China Equity Caroline Maurer. Other senior female investment professionals include: CIO, Asia Pacific; Head of Global Emerging Markets Equity; Head of World Selection Funds (within Multi-Assets); Head of Credit Research Asia Pacific; Head of Global High Yield; Global Head of Quant Fixed Income Research; and Global Head of Credit Research (team of c.45 credit analysts of which c.40% are female).

We also aim to build more diverse investment committees to ensure that our female managers have as much opportunities to influence the decision-making process within our investment committees.

Senior women within HSBC Asset Management’s Global Leadership Team include CEO HSBC Alternatives; Global Head of AM Compliance; Global Head of Sustainability; CEO Asia Pacific; Global Head of Marketing & Client Experience and Head of Sustainability Delivery (several are new appointments in 2021).

Other senior female appointments in 2021 include: Global Head of Stewardship & Engagement; CEO, Switzerland; Head of Institutional Sales Support; CIO, Saudi Arabia and CEO Taiwan.

To develop our leadership pipeline, we are also supporting our high performing female employees through The Accelerating Female Leaders programme, which focuses on increasing their visibility, sponsorship and network, whilst driving their engagement and enhancing their leadership capability.

Thinking about the next generation, in HK, we are sponsoring ‘Inspiring Girls’ charity with an aim to raise the aspirations of school-aged girls and paving the way for future generations of women to take their place in the world of asset management and finance. We have also partnered with the CFA Institute in India to hire female interns from underprivileged backgrounds and our 4 interns start Sep 2021.

We are also committed to understanding the interplay, or intersectionality, between the areas such a gender, race, ability, sexual orientation and identity, mental health, social mobility and religion. We continue to work with external experts to learn more about how our colleagues who fall into more than one underrepresented group experience our working environment and what we can do to provide an inclusive culture that allows all colleagues to thrive.

Ethnicity commitment

We are enhancing our data to support an evidence-based approach to driving change, especially around our minorities balance commitments and senior leadership representation. A self-identification campaign was run throughout Q4 2021 to encourage people to volunteer their information.

We are taking action to improve opportunities for black and ethnic minority employees through the Accelerating into Leadership programme. In 2021, we signed up to the 100 black interns initiative, and in June hired our first summer intern from this programme ( HSBC Asset Management had also made a commitment to join the Investment Association’s ‘Change the Race’ pledge which had the aim of increasing ethnic minority representation on companies.

The Hispanic Latin Diversity Committee (HLDC): We have The Hispanic Latin Diversity Committee (HLDC), an HSBC Employee Resource Group (ERG), whose mission is to promote and support a diverse environment in HSBC where Latino employees can grow personally and professionally, and fully contribute to the success of the company, our customers, our shareholders and our communities by:

  • Fostering an environment that recognizes and celebrates Hispanic and Latin diversity.
  • Recruiting, assist and promote professional development via internal and industry networking and mentoring programs.
  • Providing a forum that facilitates open discussion of workplace issues for our Hispanic and Latin American employees.
  • Seeking corporate sponsorship for community and cultural programs that can be leveraged for employee development and shareholder value.

Did you know?

        Sylvia  Maria Elena  Dr. Ellen Ochoa  Esteban Hotesse

  • Sylvia was a Venezuelan-Puerto Rican transwoman, a pioneering LGBT activist who fought tirelessly for trans rights and credited as the person who “put the “t” in LGBT activism.”
  • Maria Elena is the longest running female news anchor on U.S. television.  With over 30 years on screen, she is the first Latina to receive a Lifetime Achievement Emmy.
  • Dr. Ellen Ochoa is an American engineer, former astronaut, former director of Johnson Space Center and in 1993 became the first Latina in space aboard the Space Shuttle Discovery.
  • Esteban Hotesse was an Afro-Latino born in the Dominican Republic, Hotesse become a member of the first all-black group of military pilots in the U.S. Armed Forces - the Tuskegee Airmen - during World War II. 

Social mobility

Social mobility is an area that is sometimes overlooked as it may not be easily identified. Our Social Mobility workstream have educated all of us in how giving a chance to an individual could lead to a cohort of loyal and effective employees. We signed up to UK Government’s Kick-start scheme (, in partnership with Investment 20/20, and we have two Kick-starters in our Institutional Client Management team, and in the coming months, one Kick-starter will be placed in a permanent role.

We committed to at least one social mobility candidate for our Internship programme, have signed up to the 10000 Black Interns programme for the second year, and launched our UK Apprenticeship programme with four new hires. We are in the process of working with a broad range of social mobility charities, schools and higher education authorities with focus to mentor young talent which due to socio economic circumstances, are underachieving. We are working with the wider HSBC Early Careers Team, to implement an Early Careers Attraction & Selection strategy that support social mobility.

Our aim is to bring in fresh perspectives and diversity of thought into our firm and disrupt any group thinking we may be having. We believe that “Talent is everywhere, but opportunities are not".


Despite 80% of people acquiring a disability while in employment, the majority hide in plain sight. Only 6.3% of them, according to Business Disability Forum, self declares as disabled. Without being aware, we disregard the needs of our colleagues and make their contribution more difficult. Our goal is to highlight the importance of mainstreaming disability issues and encourage open dialogue about what it is to be different and how departments in Asset Management can support each team member’s needs. We are committed to the UK Government’s Disability Confidence scheme, of which we are Grade 3 - “Leader” and ensure regular training for new employees is implemented. We have a senior Marketing Member who co-chairs a Disability workstream at the Diversity Project ( These initiatives help not only ensure a strong culture of disability inclusion in HSBC Asset Management and also the wider HSBC, but also in the Investment Industry in a meaningful way.

Our Disability workstream is co-chaired by Timothy J Roberts (Tim) and Jason W Hampton.

Tim is profoundly deaf and has been since birth due to his mother contracting Rubella during pregnancy. A common occurrence in the 1970’s, which led to many babies being born with disabilities. Tim is part of the HSBC Ability network and London Pride committee as well as co-chairing the Disability workstream of the wider external Diversity Project, which seeks to improve diversity within the Investment Industry.

Jason was one of the 80% of individuals who develop some form of disability in adult life. An infection left Jason being single sided deaf. Jason is a long standing Governor at an under privileged 6th form college that prides itself on lifting students up to achieve goals and has dedicated learning infrastructure for students with disabilities.

Our Mission

We are committed to creating a workspace where people of all abilities can succeed without barriers. Our goal is to increase awareness, foster a culture of inclusion and help people in HSBC Asset Management remove impediments in business structures that prevent people with disabilities from thriving and contributing value.

With one in four US adults and one in five UK adults living with disability, being inclusive is not just a compliance task or the right thing to do, it is also good business. We believe that over 1 billion people worldwide with disabilities and long-term conditions enhance the social and economic health of our societies. By increasing access to people with differing abilities, we open ourselves up to new ways of thinking and higher levels of innovation.

Driving awareness and inclusion

Despite 80% of people acquiring a disability while in employment, the majority hide in plain sight. Only 6.3% of them, according to Business Disability Forum, self declares as disabled.

Without being aware, we disregard the needs of our colleagues and make their contribution more difficult. Our goal is to highlight the importance of mainstreaming disability issues and encourage open dialogue about what it is to be different and how departments in Asset Management can support each team member’s needs. A strong culture of disability inclusion in Asset Management and also the wider HSBC, will ensure that everyone can contribute to their business area in a meaningful way.

Hiring and supporting people with disabilities

We are encouraging not just Asset Management but the wider bank to adjust their recruitment process to promote employment for people with disabilities (only 1 part of the bank has this accreditation). Our goal is to ensure the whole bank is Disability Confident Status by May 2022.

Creating accessible environment for all

Accessibility is a precondition for an inclusive society and the provision of flexibility to accommodate each user’s needs and preferences. It ensures that persons with disabilities can exercise their rights and are empowered to participate fully in society on equal terms with others.

In addition, by avoiding the issues that make interaction difficult, inefficient, physically tiring, or impossible for someone with a disability, we can create a more delightful experience for everyone.

Videos and Documents

(webinar from 28 Jan)

A panel featuring Diversity Project Disability workstream members and the co-chair of HSBC Asset Management, Tim Roberts sharing their unique experiences of how they have personally navigated remote working and some advice that you might find useful in your department/area.

(webinar from 27 Jan)

Presentation from the LocWorldWide43 conference by Linda Russheim, The Diversity Project and HT Financial Marketing, and Sabina Jasinska, StoneShot on Designing for Accessibility: Compliance, Creative Challenge or Opportunity to Achieve Superior User Experience.

What actions can you take?

HSBC Asset Management is participating in being involved in the Disability Confident scheme which is only held by the retail bank right now. Let us know if you want to be involved.

More info on the Disability Confident scheme

Looking for interns? Focus on diversity recruiting efforts with Change 100, a programme of paid summer work placements for students with disabilities.

Learn about Change 100 internships

Whether you are starting your disability inclusion journey, scaling up or leading the charge, join The Valuable 500, the global CEO community revolutionising disability inclusion through business leadership and opportunity. HSBC is part of this change and Caroline Casey is keen to help us out.

Join Valuable 500 to help build an inclusive world


Disability and the work of the DP Disability Workstream, ESG Clarity magazine

Firms ‘must embrace disability’ – Letter urging Prime Minister Boris Johnson to take measures to increase the number of disabled people in workforce
Scope Get inclusive - Access to work Toolkit
Scope – Disability facts and figures



Scope is a disability equality charity in England and Wales, providing practical information and emotional support as well as campaigning relentlessly to create a fairer society.


Change 100 is the flagship programme of paid summer work placements, professional development and mentoring. It matches talented university students and recent graduates with any disability or long-term condition with progressive employers.


Business Disability Forum is a not-for-profit membership organisation that exists to create a disability smart world by linking businesses, disabled people, and government.


The Disability Confident is a UK government scheme designed to encourage employers to recruit and retain disabled people and those with health conditions. It is voluntary and has been developed by employers and disabled people's representatives.

Mental Health & Wellness

Our pledge to prioritise mental health

Mental Health

To support the mental health and wellbeing of our colleagues, HSBC Asset Management has increased senior leadership communications related to mental health on various topics, including the need for time off, increased flexibility around deadlines, ways of working and expectations on deliverables. We have implemented Monthly Zoom-Free Fridays to give some headspace to our colleagues. As HSBC Group, we now also have free access to the Headspace application, with an aim to help with resilience through meditation. We have launched “Wellness Wednesday” newsletter so as to continue promoting mental health awareness and provide contact points for help and support on a global basis. We also have relevant trainings around mental health on HSBC University for every employee to access. In June 2022, we launched our Global Mental Health Ambassadors – 13 colleagues across the world whom people can reach out to. This new initiative aims to help remove the stigma around mental health and encourage us all to speak up and seek timely support.


Our commitment to DE&I and the LGBTQI+ community remains robust as we strive towards building a more inclusive environment within HSBC AM, heard inspiring coming out stories, celebrated Pride Month with a plethora of events while actively promoting Bi Visibility Day, Transgender Awareness Week etc.

Our Global CEO Nicolas Moreau participated in an internal event, “We Value Difference” hosted by OutLeadership (organization which promotes LGBQTI+ equality) alongside other HSBC leaders to encourage diversity and its many facets. The community isn’t complete without Allies and we have fostered a growing network of Allies and our AM LGBT+ Allyship fireside chat had a diverse group touch upon their personal experiences and the need to be active champions to make a difference. We are actively nurturing the importance of being Out and support our colleagues by providing opportunities through the OutLeadership / OutNext nomination to emerging leaders to connect, drive and influence changes and be heard. We participated in the Out Leadership European Summit 2022 and aim to increase AM participation in this global network. We are also partnering and collaborating with LGBT Great ( to broaden our 2022 strategic focus on specialised training & awareness, grooming mentors & allies, leverage industry insights, policies, benchmarks and so on.

Our senior leaders at the helm remain active proponents of DE&I and Stuart White, CEO UK & International, was selected in the LGBT Great 2021 Global Top 100 Executive Allies for his steadfast contribution to the LGBTQI+ community from among nominations across 55 firms globally. We are also participating in a firm wide initiative for employees to volunteer their Gender Identity & Sexual Orientation making it our first step towards many to understand the nuances of our people instead of making broad generalizations.

A chat with Joanna Munro, Co-sponsor of LGBTQI+ workstream

Joanna Munro

Why are you personally passionate about diversity, equity & inclusion?
I’ve been very fortunate in the opportunities I’ve had and I want to make sure there is fair access to opportunities for everyone.

Why are you specifically interested in supporting LGBTQI+ equity and inclusion? 
I have bisexual and transgender close family members and my eldest child is non-binary: in educating myself I realise how, completely unintentionally, I have been non-inclusive in the past and so I’m really committed to creating that inclusive environment for all LGBTQI+ colleagues.  

What do you see as the biggest challenge for the LGBTQI+ community in this day and time? 
I understand that people are nervous about coming out, particularly in the working environment.  Allyship is critical for that but I know many allies with good intentions aren’t sure how to support their LGBTQI+ colleagues.

What do you hope to achieve from your sponsorship of LGBTQI+ work stream?   
I hope to show how important LGBTQI+ inclusion is to the AM leadership team, to increase awareness and particularly to encourage Allyship among all colleagues.

What one thing will you do to create leadership opportunities for LGBTQI+ people?  
I am keen personally to mentor an LGBTQI+ colleague and to benefit from their reverse mentoring: that will help me understand what blocks there are for LGBTQI+ colleagues in developing their careers. 

If you have one piece of advice for LGBTQI+ colleagues in HBSC Asset Management, what will it be and why? 
We want everyone to be able be their authentic selves at work, so if you can do that, great and if you aren’t comfortable, there is the LGBTQI+ network and colleagues, so do reach out as we are all keen to help.

Investments: DE&I within RI/ESG Investing

In terms of incorporating DE&I into Sustainable Investing, we led an event convening industry leaders from Citi, KKR, Pathstone and Invesco led by our Global CIO Xavier Baraton. Speakers showcased the long term positive impacts of integrating DE&I in our investment process. Our Investment teams have started a research initiative this year sponsored by our Global CIO. The aim is to define and integrate the most relevant investment criteria that foster DE&I more broadly. While this research work is in its early stages, we aim to have specific sector and asset class appropriate score cards that could be used within our RI/ESG investment framework. Additionally, we deem voting and engagement to be an essential and vital medium to promulgate the importance of DE&I within our investment approach. We are working closely with Workforce Disclosure Initiative (WDI), a collective initiative focusing on improving corporate workforce transparency, in order to get reliable and representative data source to guide and steer conversations with companies we engage with. Whilst all forms of diversity are equally valued at HSBC Asset Management, about 60 investment teams colleagues (~10% of total) are members of the investment workstream and we are actively exploring ways to improve cognitive diversity within the function. In the last 20 years, the investment industry (not just HSBC) has increasingly become more ‘standardised’ in qualifications required to work in the fund management industry. In some cases, this has become a barrier to entry. The downside of this ‘set’ pathway of recruitment is that it increases the risk of ‘groupthink’.
We have ambitions to be a thought leader in sustainability and responsible investment, an increasingly competitive space. To do that, we provide diverse and engaged forums to encourage collaboration, such as the virtual sector teams, and troubleshooting engagement clinics to put our lessons learnt in ESG, including DE&I, into practice. Our work covers how DE&I relate to business profitability, corporate and governance risks, and societal and environmental impacts.
We are reviewing our human capital management process to make it more diverse and inclusive, from hiring, training to promotion (HTP committee), led by our Asia CIO, who has a passion and background in people management. We have published in April 2022 a 30,000-word paper on Investors’ Expectations of Ethical Artificial Intelligence in Human Capital Management that will inform our approach and best practices when technology is used to improve DE&I.
Our Stewardship team has started the #WeEngage campaign – encouraging colleagues to share their interests, what they enjoy doing in their free time, and how that shapes their values and inform their work. This campaign helps us to identify areas of common interests in a new hybrid world.

Working Parents

The Working Parents Group creates a network to provide resources and support to address the priorities of working parents and Carers. We work together with senior leaders to engage and influence HSBC policy and culture from the top down, offering guidance and education to address different biases that impact our colleagues.
In 2021, we launched a new Parental Transition Coaching benefit for all employees. Expectant and new parents can take part in a parental transition coaching programme, aiming to help colleagues manage their career alongside a happy home life. It consists of online resources, workshops and individually tailored 1:1 coaching with external coaches, and people managers with team members who are taking parental leave have the opportunity to attend a workshop for managers too. We have also sought to support and encourage the taking of paternity leave amongst our male employees and to highlight the firm-wide support for paternity leave by running spotlight interviews on our male colleagues who have taken paternity leave.

Spirituality and Self-Knowledge

The Spirituality and Self-Knowledge work stream was established to promote freedom of thought, conscience and religion across the HSBC Asset Management. Our key objective is to share knowledge about the importance and benefits of exercising self-knowledge and cultivating a deeper sense of how we interconnect within ourselves and the ones around us. Our initiatives include creating an open space where concepts around spirituality and self-knowledge can be freely shared and explored among colleagues offering insights on how to pursue well-being across all areas of our lives.

Nicolas Moreau

Nicolas Moreau, Global CEO
Passion: Inclusion & Allyship

I have always believed that for an organization to be performing at its best needs both a diversity in the composition of its team, whether origin, gender, race, religion or sexual orientation, but also that everyone should feel included in the team. I have seen too many teams, projects or investments fail because of a lack of diversity, or because people didn’t dare to express their views, or to be their own self. That’s why I am a fervent advocate for Diversity, Equity and Inclusion.



Stuart White

Stuart White, Global Head of Strategy & UK CEO; ManCo sponsor of the DE&I programme. Member of the Advisory Board of the Industry’s Diversity Project
Passion: Inclusion, Allyship & Mental Health & Wellness

I am a passionate believer in the positive impact that DE&I can have on any organisation in terms of harnessing the benefits of diversity of thought and creating a better and more effective place to work. I am a supporter of all aspects of DE&I but have a particular interest in allyship with the belief that organisations supporting DE&I will be more successful, will grow faster and will create more opportunities for all colleagues. I am also passionate about mental health awareness having experienced periods of my life and my eldest daughter’s life where turning a negative into a positive has led to resilience and a different perspective. Being more open and removing the stigma associated with mental health is a very important to me and this awareness I believe will lead to a more inclusive, supportive and effective working environment for all.



Joanna Munro

Joanna Munro ,CEO of HSBC Alternatives
Passion: Gender & LGBTQi+

I’ve been very well supported in my career and able to access interesting opportunities, as well as manage my work/life balance with part time and flexible working. I really want to make sure that both men and women are able to grow their careers and manage their balance in the way that works for them a nd I believe that when people feel good about their whole lives they are able to bring the right energy and enjoy their work. I’m now also happy to be a co sponsor for LGBTQI+ I think of myself as open and inclusive but I have close family members who are transgender and seeing the world through their eyes, I realise how much more we have to do to create a n environment that is truly inclusive for everyone.



Xavier Baraton

Xavier Baraton, Global Chief Investment Officer
Passion: DE&I in Investments & LGBTQi+

Early in my life I have been the witness of pre conceived ideas and of exclusion. From school to university years, I could see how damaging this could be for anyone being stigmatised or discriminated, draining their energy and sometimes leading them to renounce to their aspirations or dreams. Th is has been the foundation of my engagement on ethnicity, gender or sexual orientation and of my belief that defending any aspect of diversity would raise awareness on every aspect of it. Inclusion came later in my professional career, when I could observe and hopefully build inclusive work environments, where success results in all our colleagues being confident in their fair chance to contribute and reach their goals. Today, besides supporting DE&I in all relevant aspects of our investment practices and culture, I am extremely proud to be co sponsor f or LGBTQI+. On this front, I partly owe my attention to my children, now two young adults, and can feel how much more efforts and commitment our society and our organisation have to demonstrate to be truly inclusive. I am keen to lead and contribute.



Daisy Ho

Daisy Ho, CEO Asia Pacific
Passion: Gender Balance

Gender balance and ethnicity diversity are very close to my heart as a Chinese female leader. It was a lonely journey during early part of my career. I didn’t see a lot of similar faces like myself and I had to find my own way. Fortunately, I am blessed and thankful for those who gave me the opportunities and trust. Therefore I am passionate to share my experience to support the others who face similar challenges like my old self. I was told once by a young female talent seeing is believing. Let’s work together to build an inclusive work environment.



Thorsten Michalik

Thorsten Michalik, Global Head of Wholesale & Partnerships
Passion: Social Mobility

For me social mobility is about “getting in”, “getting on” and “removing” the class celling. I want to make sure that we within Asset Management create an environment where people born into low income families have the chance to prove their talent via internship, apprenticeships and graduate programmes. Once “in” we have to support those talents to “get on” and help them to expand their network, skill sets and give them a “seat at the table”. It took me a while to get in, but I got a fair chance via hard work, dedication and exceptional mentors to prove myself. I want to make sure that we make the financial industry a better place via DE&I and social mobility is an integral part of it.



Nirmal Kumar

Nirmal Kumar, Global Head of Human Resources
Passion: Inclusion

At various points in my life, I have felt excluded as a result of where I come from, my hierarchy in the organisation, ethnicity or for having a different point of view. I have felt the most energised when I have been part of teams where every voice mattered. I am passionate about contributing to an environment w here every person has an equal and fair chance to succeed.



Edmund Stokes

Edmund Stokes, Global Chief Operating Officer
Passion: Ability (Disability & Neurodiversity)

Individually, our family, friends and our colleagues may be impacted by a variety of impairments hearing, vision, mobility, mental health, learning disorders, neuro diversity and long term health conditions such as diabetes, cancer and heart conditions. I have immediate family members who are impacted t his is just part of life. I would like to help further develop an environment that supports those who are impacted, directly or indirectly, by such life events.



Erin Leonard

Erin Leonard, Global Head of Sustainability
Passion: Working Parents , Ability (Disability & Neurodiversity ) & Social Mobility

The challenge of developing a career at the same time as growing a family is the very definition of stress, but the rewards are immense. I have found so much support from colleagues across the business, and I am passionate about helping others manage through the ups and downs of working parenting. HSBC offers amazing flexibility to support individuals in finding the right balance to fit their personal goals. I look forward to connecting with more of my co workers on the topic of finding the right work life balance.



Paul Griffiths

Paul Griffiths, Global Head of Institutional
Passion: Social Mobility

I believe Social Mobility is a powerful societal force which benefits individuals and businesses in the most direct way. For individuals it provides opportunity for people from all backgrounds to achieve career success and fulfilment, whilst businesses benefit from its contribution to delivering the diver sit y of thought essential for success. My own experience of the asset management industry is one where those willing to work hard and learn can achieve success. How eve r there remains significant scope to provide the educational and work opportunities needed to deliver true social mobility. I am committed to making that happen both to help people directly, and to benefit the broader industry to ensure we make a positive contribution to society.



Edmund Tang

Edmund Tang, Global Chief Financial Officer
Passion: Ethnicity

Being born in the UK and bought up in a small village with 3000 people, to HK parents, I was aware of my ethnicity as a small child, given I was the only non white kid in school. It is important that HSBC with Asian roots continues to embrace ethnic diversity. Hopefully, I am proof we are on the journey , having relocated from London with HSBC and worked in Asia for the last 12 years. My parents were born in the East and moved West, and I was born in the West and have moved East.



Tim Palmer

Tim Palmer, Global Chief Risk Officer
Passion: Ability (Disability & Neurodiversity)

I am a passionate believer that teams perform better than individuals and the more diverse a team the better. Thus I am delighted to part of an initiative that will encourage and support those with different abilities and perceptions to have the opportunity to contribute fully to our success and more widely. My personal experience supporting one of my children who is dyslexic reinforces my passion.