Euromoney magazine has named Bank of America the World’s Best Bank for Diversity and Inclusion. This is the second consecutive year and third time in four years that Bank of America has been recognized in this category. Bank of America received Euromoney’s inaugural D&I award in 2016.
The global D&I award goes to the firm that shows a strong track record for initiatives promoting diversity and inclusion within their own company, and the markets and industry more generally. The winning company must also demonstrate that their diversity policy is having a positive effect on the performance of their company and their offerings to clients.
“Bank of America has been focusing on diversity and inclusion for decades – even before it became the Bank of America of today,” Euromoney said. “It’s clear that the company has had a head start on its peers, but there is no doubt that CEO Brian Moynihan’s own focus has only deepened that commitment, one that is constantly measured, refined and developed under Sheri Bronstein, chief human resources officer, and Cynthia Bowman, chief D&I officer. Moynihan also chairs the bank’s Global D&I Council that is comprised of business and regional leaders who develop strategies to support the bank’s diverse and inclusive environment.”
In a meeting with Euromoney, Bank of America CEO Brian Moynihan said, “We’ve worked to bring D&I into every single part of the business. We leave nothing to chance so that whatever is happening, it’s part of the machinery here and is almost self-perpetuating now. There is of course more to be done, but the momentum is built in.”
In North America, Bank of America won in three categories:
Euromoney extended the North America awards to the bank based on the following rationale:
“Our clients are the heart of our business and they trust us with two very important things – their information and their money,” said Chief Operations and Technology Officer Cathy Bessant. “Every service or offering we deliver is designed responsibly to address those needs, and that has to be pervasive in every way that we think about our role in society.”
In Asia Pacific, the company was awarded:
“Being named Asia’s Best Bank for Corporate Social Responsibility is a reflection of our commitment to responsible growth,” said Jiro Seguchi, co-president of Asia Pacific at Bank of America Merrill Lynch. “We are not only committed to addressing major global challenges through our operations, deploying capital, and supporting diversity and inclusion, we’re also helping our clients, employees and communities do the same.”
The Euromoney Awards for Excellence were established in 1992 and are the global benchmark for the banking industry.
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 66 million consumer and small business clients with approximately 4,400 retail financial centers, including approximately 1,800 lending centers, 2,200 financial centers with a Consumer Investment Financial Solutions Advisor, and 1,500 business centers; approximately 16,400 ATMs; and award-winning digital banking with more than 37 million active users, including over 27 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 across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock
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Liz Wright, Bank of America