Deutsche Bank moved to integrate sustainability criteria into its wealth management approach – a step very much in line with similar developments across the border in Switzerland.
«Adding purpose to performance» – German giant Deutsche Bank is putting its wealth management on an equal footing with the Swiss banks. It has decided to pursue a strategy that emphasizes the protection of the environment, is in line with social criteria and guarantees good governance (the so-called ESG criteria), the bank said in a statement on Tuesday.
The wealth management of Deutsche Bank is expanding the offering of its ESG-products and adopts the ratings provided by MSCI on sustainability.
«A new generation of clients and society as a whole are becoming increasingly aware of the responsibility that comes with wealth and the positive impact that ESG factors can have on returns,» said Fabrizio Campelli, global head of wealth management. «They are rightly demanding that we enable them to add purpose to investment performance.»
In Switzerland, both big banks, UBS and Credit Suisse, have adopted the criteria of sustainability into their wealth management approach. The Swiss Bankers Association last week said that sustainability was a new pillar of excellence that made Swiss banking stand out in comparison to other banking hubs.
