Deutsche Bank has removed the Dorchester Collection hotel group from its list of suppliers in support of lesbian, gay, bisexual, transgender, inter and queer (LGBTIQ) rights.
The decision follows the introduction of new laws against homosexuality by Brunei, whose state-owned investment agency owns the Dorchester Collection.
“The new laws introduced by Brunei breach the most basic human rights, and we believe it is our duty as a firm to take action against them,” said Stuart Lewis, Chief Risk Officer and member of the Management Board. “We are proud to support LGBTIQ rights around the world, and as part of this we regularly review our business partnerships to ensure that they are aligned with this principle.”
In January 2019, Deutsche Bank was one of the co-founders of the Partnership for Global LGBTIQ Equality consortium to promote greater inclusion for LGBTIQ in business.