Diversity and inclusion: Thomson Reuters reveals Q3 bank rankings for D&I

By:
Helen Avery
Published on:

The top three banks globally for diversity and inclusion (D&I) are Bank of Montreal, BNP Paribas and Barclays, according to data from Thomson Reuters.

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Shining example: Bank of Montreal

Deutsche Bank ranks ninth, while Citigroup is the only US bank to appear in the top 10.

Of the five largest names on Wall Street, Goldman Sachs ranks the lowest for overall D&I (54%), but scores higher than Morgan Stanley, Citi, Bank of America and JPMorgan on cultural diversity at board level.

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Thomson Reuters D&I Index was launched in 2016 and looks at 6,000 companies globally. Scores for the index are calculated for each company against 24 metrics across diversity, inclusion, people development and news controversy. Only companies with scores across all four pillars are assigned an overall score.

Among the 24 metrics used are: percentage of female employees and managers; daycare services; percentage of employees with disabilities; and HIV/Aids programmes.

The top-100 ranked companies with the best overall scores are selected for the index, with no banks ranking in the top 10 – but Q3 data collected from banks around the world during the compilation process for the index offer some interesting insights.

When it comes to having women on boards, Société Générale, BNP Paribas, and Swedbank are among the few to have a representation of 50% or more. JPMorgan, Morgan Stanley and Goldman Sachs have less than 22% representation, for example. Citigroup and Bank of America have 31% and 29% respectively.

In terms of cultural diversity at board level, ING Group, UBS and Credit Suisse scored 50% or above in terms of representation among the largest banks. In contrast, Citi scored just 6.25%.

Canada’s banks seem the most progressive when it comes to D&I overall. Among the top-20 banks ranked overall by Thomson Reuters were Bank of Montreal, TD Bank, Bank of Nova Scotia and CIBC. RBC ranked 27th.

While the Q3 data has not been published yet, Thomson Reuters’ Q2 D&I rankings can be found here