World's best bank for diversity and inclusion 2019: Bank of America
The financial industry was designed to create opportunity in communities – Bank of America works tirelessly to ensure that opportunity is open to everyone.
Awards for Excellence 2019
Bank of America has been focusing on diversity and inclusion (D&I) for decades. It is an amalgamation of many banks, each with their own initiatives, and chief executive Brian Moynihan says D&I is in the company’s bones: “There’s no doubt we are playing off a huge heritage, because to change a culture takes time.”
It does, and it is clear that Bank of America has had a head start on its peers, but there is also no doubt that Moynihan’s own focus has only deepened that commitment. He chaired the global diversity and inclusion council at the firm back in 2008, before he became chief executive. He still does.
And that commitment is constantly measured, refined and developed under Cynthia Bowman, chief diversity and inclusion officer, and Sheri Bronstein, chief human resources officer.
The internal statistics speak for themselves. More than 50% of the bank’s global workforce are women and more than 45% of its US-based workforce are people of colour.
Senior leadership is similarly diverse – more than 40% of Bank of America’s board is female and/or people of colour.