Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Swiss drugmakers Novartis and Roche ditch some diversity programmes on US concerns
    Headlines

    Swiss drugmakers Novartis and Roche ditch some diversity programmes on US concerns

    Swiss drugmakers Novartis and Roche ditch some diversity programmes on US concerns

    Published by Global Banking and Finance Review

    Posted on March 19, 2025

    Featured image for article about Headlines

    By Paul Arnold, Maggie Fick

    ZURICH (Reuters) -Swiss drugmaker Roche has abandoned global diverse workforce targets and compatriot Novartis is ending its use of diverse panels for U.S. hiring, the latest companies acting to avoid penalties from recent U.S. executive orders

    Among its measures, Roche said its Chief Diversity Offices in the U.S. and at its Basel headquarters "will focus on inclusion and belonging, and responsibilities will be re-scoped accordingly". Diversity was not mentioned under the offices' new remit.

    According to a memo to global staff reviewed by Reuters, the changes were made to ensure that Roche "can continue to deliver medicines and diagnostic solutions to patients".

    Novartis told Reuters on Wednesday that evolving laws and policies in the U.S. would require it to change, and listed the end of its use of diverse panels as one immediate change to its own policies. The company continues to believe in "embracing varied perspectives and fostering equal opportunity for all of our people", it added.

    A number of U.S. companies have been scaling back diversity, equity and inclusion programmes since U.S. President Donald Trump declared some elements of DEI illegal and threatened possible investigations into firms that practice it.

    Among companies not headquartered in the United States, Swiss bank UBS this week scrapped references to establishing women in management roles and hiring employees from ethnic minority backgrounds from its 2024 annual report.    

    Roche said the changes would also take effect outside the United States "because our global programmes and goals can have an impact on our U.S. organisations if we are not compliant under the new law", according to the memo. 

    Roche is not alone in the pharma industry. Last month, British drugmaker GSK announced it would no longer set diversity targets.

    Meanwhile, British drugmaker AstraZeneca and Denmark's Novo Nordisk have recently said they remain committed to their DEI programmes.

    (Reporting by Paul Arnold and Maggie FickWriting by Ludwig BurgerEditing by Rachel More and Mark Potter)

    Related Posts
    Domestic demand to drive German recovery in 2026, says IMK
    Domestic demand to drive German recovery in 2026, says IMK
    Norway's power grid operators asked to sharpen sabotage preparedness
    Norway's power grid operators asked to sharpen sabotage preparedness
    France's Louvre museum remains shut as workers weigh strike extension
    France's Louvre museum remains shut as workers weigh strike extension
    Europe must be responsible for its own security, EU's von der Leyen says
    Europe must be responsible for its own security, EU's von der Leyen says
    Ukraine drone debris sparks fire at Russia's Slavyansk refinery, authorities say
    Ukraine drone debris sparks fire at Russia's Slavyansk refinery, authorities say
    Volkswagen battery business PowerCo looking more intensively at external funding
    Volkswagen battery business PowerCo looking more intensively at external funding
    TikTok monitored Grindr activity through third-party tracker, privacy group alleges
    TikTok monitored Grindr activity through third-party tracker, privacy group alleges
    Agentic AI race by British banks raises new risks for regulator
    Agentic AI race by British banks raises new risks for regulator
    Analysis-Australia's gun laws riddled with loopholes and workarounds, experts say
    Analysis-Australia's gun laws riddled with loopholes and workarounds, experts say
    EU to strengthen carbon levy on high-emission imports
    EU to strengthen carbon levy on high-emission imports
    Russia-China Far Eastern gas route construction progressing, China ambassador to Russia tells RIA
    Russia-China Far Eastern gas route construction progressing, China ambassador to Russia tells RIA
    Europe to vote on scheme to help abortion access
    Europe to vote on scheme to help abortion access

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Headlines PostEuclid mission data release is step toward grand atlas of the cosmos
    Next Headlines PostFrench foreign minister plans visit to China, says tariff-hit cognac lobby

    More from Headlines

    Explore more articles in the Headlines category

    Analysis-Pakistan's military chief Asim Munir in spotlight over Trump's Gaza plan

    Analysis-Pakistan's military chief Asim Munir in spotlight over Trump's Gaza plan

    Sydney mourners remember slain rabbis killed in Bondi Beach shooting

    Sydney mourners remember slain rabbis killed in Bondi Beach shooting

    Euroclear at risk of Fitch ratings cut over Russian frozen assets

    Euroclear at risk of Fitch ratings cut over Russian frozen assets

    UK to provide financial support to save its last ethylene plant

    UK to provide financial support to save its last ethylene plant

    Doctors in England begin five-day walkout during flu surge

    Doctors in England begin five-day walkout during flu surge

    Belarusian president calls for fast action on Ukraine war while US is engaged

    Belarusian president calls for fast action on Ukraine war while US is engaged

    Alleged Bondi gunman charged with 15 murders as funerals of victims begin

    Alleged Bondi gunman charged with 15 murders as funerals of victims begin

    Swift Anglo-Teck merger approval shows Canada's pro-business shift, dealmakers say   

    Swift Anglo-Teck merger approval shows Canada's pro-business shift, dealmakers say   

    Couple, man who died trying to stop Bondi Beach attackers praised for heroic efforts

    Couple, man who died trying to stop Bondi Beach attackers praised for heroic efforts

    Warner Bros likely to reject $108.4 billion Paramount bid, back Netflix in bidding war, sources say

    Warner Bros likely to reject $108.4 billion Paramount bid, back Netflix in bidding war, sources say

    Stellantis says EU proposals fall short on auto industry's energy transition needs

    Stellantis says EU proposals fall short on auto industry's energy transition needs

    Under Ukraine security guarantees, Western troops could repel Russian forces post-ceasefire, says Germany's Merz

    Under Ukraine security guarantees, Western troops could repel Russian forces post-ceasefire, says Germany's Merz

    View All Headlines Posts