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Bank of America Recognized for Global Leadership in Financing, Diversity

Euromoney: World’s Best Bank for Financing and World’s Best Bank for Diversity

Bank Wins Top Honors in Five Additional Categories

Wednesday, July 6, 2016 6:30 pm EDT

Dateline:

Charlotte, N.C.
"As financing gets more strategic, Bank of America Merrill Lynch is showing where its greatest strengths lie"

Euromoney this week named Bank of America the World’s Best Bank in two key areas: financing and diversity. This is the inaugural year for both awards, and the wins reflect the bank’s strategy to serve customers, clients and shareholders through the power of its diverse, global workforce.

In speaking about why the company was awarded the Best Bank for Financing, Euromoney remarked how over the past 12 months, Bank of America Merrill Lynch has demonstrated its ability to deliver certainty in execution and the right mix of financing, advice and products to clients, regardless of market conditions.

“As financing gets more strategic, Bank of America Merrill Lynch is showing where its greatest strengths lie,” said Euromoney. “The bank’s work on big strategic financings showcased its breadth and flexibility, as did its willingness to stump up hefty underwrites despite a tricky backdrop.”

The Euromoney award for World’s Best Bank for Financing recognizes Bank of America Merrill Lynch’s diversified platform, built to provide strategic solutions and deliver in challenging and dislocated markets, serving as an advisor for clients in their most important financings including industry-transforming mergers and acquisitions, and long-standing client relationships.

When describing the bank’s gender, racial and ethnic diversity, Euromoney labeled the results unrivaled and a testament to how diversity and inclusion are ingrained in the bank’s culture. Euromoney also noted the bank’s efforts to connect employees across the globe through its employee networks and success in educating employees about unconscious bias.

“Having a diverse and inclusive workplace is core to who we are as a company. Being named World’s Best Bank for Diversity by Euromoney is further evidence that our approach sets us apart from other companies around the world,” said Sheri Bronstein, global human resources executive at Bank of America. “Our diversity makes us stronger and is essential to our ability to meet the needs of our customers and clients.”

“There are very few banks where one can say diversity and inclusion are truly embedded within the business,” said Euromoney. “To make it a reality, that ethos needs to come from the most senior management. At Bank of America, Chief Executive Officer Brian Moynihan chairs the global diversity and inclusion council that sets goals and practices. That level of C-suite engagement shows, and is why we chose Bank of America to win our inaugural world’s best bank in diversity award.”

Bank of America’s recognition as World’s Best Bank for Diversity reflects its ongoing commitment to diversity and inclusion, which includes:

  • Forty-four percent of Bank of America’s U.S. workforce is racially and ethnically diverse. 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.

  • More than 70,000 memberships in 11 employee networks around the world, which are comprised of more than 200 chapters, provide employees opportunities to connect to develop leadership skills, build strong ties with the communities we serve and bring lasting value to our business strategies.

  • More than 300 top female leaders from around the world are coming together for the bank’s third annual women’s conference, with global women’s networks and councils drawing from more than 30,000 women mentoring each other, and partnering with external organizations to promote gender equality in the industry and inspire future generations of women leaders.

  • Almost 30,000 employees have taken training focused on unconscious biases, and more than 68,000 employees are participating in learning programs focused on celebrating diversity and practicing inclusion of all employees. Sessions cover all dimensions of diversity, including a recent training that attracted more than 13,000 managers to learn how best to engage introverted employees as well as they do extroverted teammates.

  • A returning talent program in the UK during past five years has helped almost 200 people bridge the gap between being a stay-at-home caregiver and re-entering the workplace, both at the company and elsewhere. The program has now expanded to the U.S. to help participants from diverse backgrounds find roles both in and outside our company.

In addition to winning the diversity and financing awards, Bank of America also won a number of regional accolades for excellence in commercial, corporate and investment banking:

  • North America's Best Bank for Small and Medium-sized Enterprises

  • North America's Best Bank for Transaction Services

  • USA's Best Investment Bank

  • Germany's Best Investment Bank

  • The Philippines’ Best Investment Bank

The Euromoney Awards for Excellence were established in 1992 and are the global benchmark for the banking industry. These annual awards cover more than 20 global product categories, best-in-class awards in all regions and the best banks in close to 100 countries around the world.

 

Bank of America
Bank 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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Reporters May Contact:
Andy Aldridge, Bank of America Diversity and Inclusion, 1.980.387.0514
andrew.aldridge@bankofamerica.com

John Yiannacopoulos, Bank of America Global Investment Banking, 1.646.855.2314
john.yiannacopoulos@bankofamerica.com

Louise Hennessy, Bank of America Global Transaction Services, 1.415.913.3641
louise.hennessy@bankofamerica.com