World's best bank for diversity 2016: Bank of America Merrill Lynch
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World's best bank for diversity 2016: Bank of America Merrill Lynch

The financial sector has been slow to embrace a diversity and inclusion agenda, but a small handful of banks are taking charge. Bank of America Merrill Lynch is a role model globally, and the results of that are tangible

Awards for Excellence 2016

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Also shortlisted: 

Lloyds Banking Group

View full 2016 results 

There are very few banks where one can say diversity and inclusion (D&I) are embedded within the business. To make it a reality, that ethos needs to come from the most senior management. At Bank of America Merrill Lynch, chief executive Brian Moynihan chairs the global diversity and inclusion council that sets goals and practices, and he attends every meeting.

That level of C-suite engagement shows, and this year BAML wins Euromoney’s inaugural award for the world’s best bank for diversity.

In gender diversity, the bank is unrivalled. Some 52% of its global workforce are women, and representation by women on the executive board is 38% – more than double that of the average board among other Fortune 500 companies. This year marks the third year of its global women’s conference, which brings together 300 of its top female leaders from around the world, while it also has a women’s leadership programme for mid-level managers.

More than 30,000 employees across the bank are part of its many women’s networks and councils that offer internal mentoring, but that also partner with external charities to create dialogue around gender equality in industry, and to inspire future generations of women leaders.

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