Bank of America Named 2019 Catalyst Award Winner
CHARLOTTE, N.C.--(BUSINESS WIRE)--Jan 17, 2019--Bank of America today was named the 2019 Catalyst Award winner by Catalyst, a global nonprofit working with CEOs and leading companies to build workplaces that work for women. The bank earned the honor based on its ongoing efforts to be a great place to work and to support the continued development, empowerment and advancement of women in the company and around the world. For more than 30 years, the Catalyst Award has recognized exceptional efforts to accelerate progress for women in business.
The Catalyst Award announcement comes just one day after the bank also was recognized for the fourth consecutive year as a leader on the 2019 Bloomberg Gender Equality Index.
This continued recognition reinforces the bank’s commitment to invest in women as they make meaningful contributions within the company and their communities. Bank of America demonstrates this investment with strong female representation at all levels of the organization — women make up more than 50 percent of its global workforce; more than 40 percent of its managers; more than 40 percent of its global management team; and more than 30 percent of its board of directors.
“Bank of America has a long-standing history of supporting women’s economic empowerment and leadership, both inside and outside of our organization. By creating a workplace where all employees can bring their whole self to work, we’re creating an environment where everyone can succeed and deliver for our customers and clients,” said Sheri Bronstein, global human resources executive. “Being named the Catalyst Award winner is reinforcement of the emphasis we’ve put on diversity and inclusion as part of our efforts to be a great place to work and help drive responsible growth.”
As part of its focus on being a great place to work and delivering for its customers and clients, the company invests in attracting diverse talent, creating opportunities for growth and development, supporting physical, emotional and financial wellness, and advancing economic mobility.
“We are committed to equality for the women in our company, and women around the world,” said Brian Moynihan, CEO. “When we invest in women leaders and make sure they have the right resources, they have the power to achieve any goal. Whether it’s starting a business, leading a Fortune 500 company, being there for their family or making an impact in the community.”
Attracting and retaining diverse talent
Bank of America continues to attract diverse talent and provide female employees the tools and programs to support their success. The bank partners with more than 200 colleges, universities and other organizations around the world to attract diverse talent. The company’s recruiting initiatives increased the representation of women across the company’s intern and full-time classes to over 40 percent.
Bank of America is committed to providing an inclusive and rewarding experience for all, with fair and equitable pay. In January 2018, the company announced the results of a compensation review for U.S. and U.K. employees — approximately 80 percent of its global workforce — which showed that, on average, compensation received by women is equal to 99 percent of that received by men. Results also showed that compensation received by minority teammates, on average, is equal to 99 percent of non-minority teammates. Bank of America has furthered its commitment to pay equity by no longer asking candidates to disclose pay history in the interview process.
Bank of America’s female representation and commitment to gender equality and diversity have been recognized by numerous third parties, such as:
Creating opportunities to grow and develop
Bank of America places an important emphasis on creating opportunities for employees to grow, develop and build a career at the company by investing in a variety of tools and resources, many designed specifically for women and diverse groups. This includes:
In addition, Bank of America provides enterprise networks that enable women to do their best work and develop the skills they need to advance in their careers, including:
Bank of America also offers line-of-business forums focused on women’s leadership and networking. These networks include:
Supporting physical, emotional and financial wellness
Bank of America’s approach to wellness focuses on more than just physical health by also encompassing emotional and financial wellness as vital parts of overall well-being. To achieve a well-rounded approach to employees’ health, the company provides a wide range of competitive and flexible benefits and programs to support employees and their families — many of which are designed to help female employees manage the demanding challenges of professional and personal life. This includes the following U.S. programs:
Advancing economic opportunity and empowerment
Bank of America recognizes the vital role women play in driving economic growth. The company has committed to connecting women entrepreneurs and leaders around the world to mentoring, education and technical assistance opportunities through its various partnerships and programs. This includes:
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 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 1,800 lending centers, 2,200 Merrill Edge investment centers and 1,500 business centers; approximately 16,300 ATMs; and award-winning digital banking with more than 36 million active users, including over 26 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 more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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CONTACT: Reporters May Contact:
Andy Aldridge, Bank of America, 1.980.387.0514
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA
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SOURCE: Bank of America
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PUB: 01/17/2019 09:00 AM/DISC: 01/17/2019 09:00 AM