“Our commitment to diversity is a commitment to individuals and to the team. It's about creating an environment in which all associates can fulfill their potential without artificial barriers, and in 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.” — Kenneth D. Lewis, chairman and chief executive officer, Bank of America.
We are proud of Bank of America's legacy as a leader in corporate diversity and in equal employment opportunity. At Bank of America, we work to foster an inclusive corporate culture and an environment free of discrimination or harassment.
Organization and Culture
- Established an executive Global Diversity and Inclusion Council, which sets the direction and guides the implementation for diversity and inclusion at Bank of America.
- In late 2006, Global Corporate and Investment Banking President Brian Moynihan was appointed chairman of the bank's Global Diversity and Inclusion Council. Prior to his appointment to the council, he was the sponsoring executive for the bank's Disability Affinity Group.
- The bank has Diversity and Inclusion Business and Regional Councils, which operate in various business lines and global regions to address and promote diversity and inclusion.
- Eight affinity groups (formal, company-recognized groups of associates with common interests) that network and support one another's development and success.
- Team Bank of America diversity networks consist of geographically based volunteer teams of associates, encourage and capitalize on the diversity of our associates and promote personal and professional development.
- Women, people of color, GLBT, disabled and veterans serve at the highest levels of the company's management.
- Our culture ensures senior executive management develops annual targets to increase diversity in their businesses and ties incentive pay to progress in hiring, promoting and retaining diverse individuals.
- The bank offers extended family and domestic partner benefits and has an equal opportunity policy that includes a nondiscrimination clause based on sexual orientation and gender identity.
Leader in Diversity
- Bank of America received top honors in the National Association for the Advancement of Colored People (NAACP)'s Economic Reciprocity Initiative Report, which rates companies based on account employment, marketing/communications expenditures, supplier diversity, charitable/philanthropic giving and community service and reinvestment. The company received a score of 3.45 out of 4, the highest score ever awarded to a company by the organization.
- Forbes, Fortune, The Wall Street Journal and US Banker continue to recognize the company for its support of women in leadership roles.
- GI Jobs magazine continues to rank the company as one of the "Top 50 Military Friendly Employers".
- For the 21st year Bank of America has been recognized again on the Working Mother magazine "100 Best Companies" for working mothers list.
- Hispanic Business magazine selected Bank of America as one of its "Top 60 Diversity Elite" for the fourth year in a row. The recognition is based on the company's dedication to supporting Hispanics in the workplace.
- Bank of America for the fifth year in a row was named to LATINAStyle magazine's "Top 50 Companies" list. The magazine ranks the best companies in the United States for Latinas to work at.
- Black Enterprise magazine named Bank of America one of its "40 Best Companies for Diversity" for the fifth year in a row. The list evaluates a company's board representation, supplier diversity, associate networks, senior management and diversity programs.
- Bank of America ranked No. 14 on DiversityInc magazine's "Top 50 Companies for Diversity" annual list. The company received special recognition on specialty lists: Top 10 Companies for Recruitment & Retention, Top 10 Companies for Latinos, Top 10 Companies for Executive Women, Top 10 Companies for Supplier Diversity.
Diversity Recruitment and Educational Commitment
Partners with national multicultural professional associations to recruit new talent and develop new business relationships. We are one of the largest corporate sponsors of the National Association of Black Accountants and of national Black and Hispanic MBA organizations.
Community Commitment
Bank of America believes that community vitality and the success of our business are inextricably linked. We are delivering on a $2 billion, 10-year annual charitable giving goal; a $1.5 trillion community development goal; a $20 billion environmental initiative; and our associates donate nearly 1 million volunteer hours annually to help strengthen the communities we serve. Learn more about our support of communities.
Supplier Diversity
Provides maximum opportunity for minority-, women-, veteran- and disabled person-owned businesses to participate in the procurement activities of Bank of America. Since the inception of our Supplier Diversity program in 1990, Bank of America has spent more than $8.0 billion dollars with diverse companies. As part of our supplier relationship development initiatives, Bank of America is proud to support the Dorothy B. Brothers Executive Management Scholarship Fund. Awarded to women and minority executives, the Dorothy B. Brothers Scholarship helps women and minority business leaders learn how to break through traditional barriers - opening doors to new opportunities for personal and professional growth. For more information on our relationship with suppliers, visit www.bankofamerica.com/suppliers.
History
- In 1847, our bank in St. Louis created a special banking day each week exclusively for women.
- The founding of Bank of Italy in 1904 (predecessor to Bank of America) was based on catering to immigrants. The bank's first tellers were multilingual.
- In 1919, Bank of Italy's international foreign departments were formed and served Russian, Spanish, Greek and Italian customers.
- In the 1920s, the Bank of Italy's Women's Department named its first female manager and vice president in the country.
- Our bank in Los Angeles, Farmers and Merchants, catered to Chinese customers in the late 1800s.
- In the late 1800s, our predecessor bank in Washington D.C. managed the famous Volta Bureau school for hearing-impaired students (attended by Helen Keller) trust account.
- In the 1890s, our predecessor bank in Washington D.C. managed the African American Teacher's Union Retirement Fund.
- Frederick Douglass had been one of the great leaders of the anti-slavery movement. But after his death, his home in the Anacostia neighborhood of Washington, D.C. was falling into disrepair. So our bank in Washington D.C. financed its restoration.
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