CHICAGO, IL- (July 30, 2008) Diversity MBA Magazine (DMBA), a niche publication targeting people of color and women MBAs, students, professionals and the business community published its third annual "Top 50 Companies for Diverse Managers To Work" in its spring issue, which hit the newsstands in late April. Bank of America is #1 in the ranking and its Global Diversity and Inclusion Executive Geri Thomas will be the keynote at this year's Diversity MBA gala in September.
Through DMBA's initiative, Bank of America was ranked against Fortune 500 companies through both primary and secondary third-party research. DMBA approached that review of each organization's diversity efforts and success metrics in a unique manner as compared to many existing "top diversity" rankings. New this year, the 2008 DMBA Top 50 Companies list will showcase companies that make a strategic effort to implement accountable diversity strategies for managers of diverse backgrounds to excel and develop into the executive ranks.
To differentiate itself and provide its readers with relevant, useful and cutting edge information, DMBA placed the focus of this effort on a segment of diverse management and the pipeline development of emerging leaders. Because the publication's readership consists of diverse professionals and entrepreneurs, it is important that the research reflect this audience.
"Our commitment to diversity is a commitment to individuals and to the team," said Thomas. "It's about creating an environment in which all associates can fulfill their potential without barriers, and through which the team is made stronger by the diverse backgrounds, experiences and perspectives of individuals. It's about giving all of us - individually and together - the best possible chance to succeed."
Bank of America was ranked #1 by DMBA because of its cutting-edge approach to diversity efforts and the adoption of measureable initiatives to promote inclusion across the organization. Sixty-six percent of the institution's workforce is women and of that percentage, nearly 50 percent are officers and managers. Additionally, 44% of the bank's workforce is minorities and of that percentage nearly 25 percent are in officer or manager roles. Clearly, Bank of America is committed to diversity and inclusion -- it plays an integral part in helping the bank reach its business goals, achieve success in the marketplace and serve the communities where its associates work and live.
Pam McElvane, CEO and publisher of Diversity MBA Magazine, says "The recognition bestowed upon Bank of America through our research applauds Bank of America for going beyond ‘best practices' and serving as a true leader in the diversity space. Many companies look to other organizations for cues on how to approach diversity yet Bank of America sets the new standard for success and innovation in leveraging diversity and inclusion across its lines of business and integrating in its everyday business practices.
Thomas will give the keynote speech at the Diversity MBA magazine awards gala on September 23, 2008 in Chicago. She will detail the bank's diversity history and approach to inclusion as well as how diversity practices are integrated across the enterprise. Thomas also will highlight how diversity supports the bank's community development strategy, recruitment and retention efforts and supplier diversity, as well as its ability to meet the diverse financial product and service needs of its customer and client base.
Diversity MBA Magazine provides research reports on industry diversity programs and performance, continuing education, networking opportunities, professional development for women and people of color working in corporate America, and business entrepreneurs. The magazine is distributed at newsstands, top business schools, professional and business associations and international networks.
Bank of America is one of the world's largest 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 more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, more than 18,500 ATMs and award-winning online banking with more than 25 million active users. Bank of America offers industry leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange
Please visit www.diversitymbamagazine.com for more information about DiversityMBA Magazine. To schedule media interviews, please call 773.857.1320
2008 LIST OF TOP 50 COMPANIES FOR DIVERSE MANAGERS TO WORK
1. Bank of America
2. Verizon Communications
3. Wal-Mart
4. Allstate Insurance Company
5. JPMorgan Chase
6. MetLife, Inc.
7. Kaiser Permanente
8. Burger King
9. Harley Davidson
10. Citigroup
11. Credit Suisse
12. CSX
13. Comcast Communications
14. Well Point
15. Convergys
16. Aetna Inc.
17. Astra Zeneca
18. Chrysler LLP
19. Pitney Bowes
20. SunTrust Bank
21. American Express
22. General Motors
23. Pepsi Co
24. HSBC N.A.
25. Merck
26. Dow Chemical
27. Hewlett Packard
28. Procter & Gamble
29. Starwood Hotels
30. Compuware
31. Cadbury Schweppes Americas Beverages
32. Sears Holdings, Inc.
33. Xerox
34. Consolidated Edison of NY
35. Lowes Corporation
36. Toyota Motor Sales
37. Yum Brands, Inc.
38. Hilton
39. Darden Restaurants
40. Price Waterhouse Coopers
41. Cummins
42. Fannie Mae
43. Avon
44. Nordstroms
45. RR Donnelly
46. Miller Brewing Company
47. Genentech
48. McDonalds Corporation
49. TIAA-CREF
50. Schering-Plough
Media Contact:
Jessica Priego Lopez
J Priego Communications
773.857.1320
Jessica@jpriego.com
