Bank of America Is a Leader in First-Ever Bloomberg Financial Services Gender-Equality Index
04 May 2016 - 2:00AM
Business Wire
Data Index Measures Commitments to Gender
Equality, Including Workplace Policies, Financial Products and
More
The 2016 Bloomberg Financial Services Gender-Equality Index
(BFGEI), released today, reinforced Bank of America’s position as a
global leader in gender equality and supporting women in the
workplace. Among other things, the index highlighted the company’s
representation of women at all levels, its leading talent
development and benefit programs, gender-conscious product
offerings for its clients, and active support and engagement on
these issues in local communities the company serves.
“As part of our work to ensure steady, responsible economic
growth, we are committed to investing in women, women-owned
businesses and products that benefit women in communities across
the globe,” said Anne Finucane, vice chairman at Bank of America.
“Bloomberg’s data validate our efforts, and this new index
reinforces the idea that Bank of America can only succeed when
women succeed.”
“We know our company is most successful when our diverse
workforce feels supported and valued, and the Gender-Equality Index
showcases the fact that we have a workplace where opportunities
exist for all employees,” said Sheri Bronstein, global human
resources executive at Bank of America. “From attracting talent to
professional development to holistic benefits and wellness
programs, we are focused on helping our people grow and
thrive.”
Bank of America’s score on the BFGEI reflects its robust
commitments to supporting women-owned businesses and entrepreneurs,
as well as our women employees through progressive workplace
policies:
- Fifty-two percent of Bank of America’s
global workforce is women, including 38 percent of the executive
team, more than double the average among other Fortune 500
companies (just 14 percent).
- We have programs and partnerships in
place to develop talented women at all levels of our organization,
including targeted campus recruiting initiatives that have resulted
in the representation of women across our intern and full-time
classes to nearly 40 percent, and our Global Women’s Conference,
which convenes top female leaders from around the globe to learn
about leadership, mobility, advancement, family and community.
- The company supports the personal and
professional growth of our employees through progressive workplace
policies, including the recently announced extension to paid
parental leave – giving employees 16 weeks of maternity, paternity
and adoption leave – and other programs to support parents and
caregivers.
- To encourage our investors and clients
to consider impact investment strategies, we’ve created the Women
and Girls Equality Strategy (WGES) as part of U.S. Trust’s Social
Impact Investing platform. This investment product evaluates a
corporation’s policies on pay equity across genders,
females/minorities represented in management, and identifies
companies that are positioned to take advantage of the women’s
economic theme.
- In partnership with the Tory Burch
Foundation Capital Program, Bank of America provided capital for
more than $10 million in affordable loans to nearly 450 women
business owners since 2014, and announced an expansion of $20
million over the next two years. These loans are administered
through community development financial institutions in each of the
program’s markets.
- To create economic opportunity for
women entrepreneurs around the world, Bank of America partners with
Vital Voices and the Cherie Blair Foundation to connect nearly
2,000 women entrepreneurs from more than 80 countries with mentors
– 200 of whom are mentored by Bank of America employees.
To be considered, Bank of America completed a survey created by
Bloomberg in partnership with third-party experts, including
Women's World Banking, Catalyst and Working Mother Media. Those
included on this year's index scored at 60 points or more, a global
threshold established by Bloomberg to reflect data transparency and
the achievement or adoption of best-in-class statistics and
policies.
"Evidence demonstrates that gender-equality policies and
practices can affect a company’s financial performance,
productivity and ability to retain top talent,” said Angela Sun,
head of Strategy and Corporate Development at Bloomberg. “While
more and more firms are focused on addressing gender equality in
the workplace, we've lacked a holistic set of data to better
understand the issues facing companies, employees and clients. The
BFGEI gives investors an important new decision-making tool by
providing objective, concrete data around difficult-to-measure
areas like policies and products."
BloombergBloomberg, the global business and financial
information and news leader, gives influential decision makers a
critical edge by connecting them to a dynamic network of
information, people and ideas. The company’s strength – delivering
data, news and analytics through innovative technology, quickly and
accurately – is at the core of the Bloomberg Professional service,
which provides real time financial information to more than 327,000
subscribers globally. For more information, visit www.bloomberg.com
or request a demo.
Bank of AmericaBank of America is one of the world's leading
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
47 million consumer and small business relationships with
approximately 4,700 retail financial centers, approximately 16,000
ATMs, and award-winning online banking with approximately 33
million active users and approximately 20 million mobile users.
Bank of America is a global leader in wealth management, corporate
and investment banking and trading across a broad range of asset
classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers
industry-leading support to approximately 3 million small business
owners through a suite of innovative, easy-to-use online products
and services. The company serves clients through operations in all
50 states, the District of Columbia, the U.S. Virgin Islands,
Puerto Rico and more than 35 countries. Bank of America Corporation
stock (NYSE: BAC) is listed on the New York Stock Exchange.
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www.bankofamerica.com
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version on businesswire.com: http://www.businesswire.com/news/home/20160503006504/en/
Reporters May Contact:Andy Aldridge, Bank of America,
1.980.387.0514andrew.aldridge@bankofamerica.comJill Watanabe,
Bloomberg, 1.212.617.1610jwatanabe11@bloomberg.net
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