Bank of America – Factbox: Racial Diversity Data at Britain’s Top Banks | Investing News

LONDON (Reuters) – Reuters asked 14 major banks based in Britain to share diversity data for their UK-based workforces as of December 2020, in an effort to map out progress in pledges to improve ethnic minority representation since the death of George Floyd and the resurgence of the Black Lives Matter movement.

While several banks said they were not currently in a position to provide comprehensive diversity data, all lenders said they were working towards greater transparency or pointed to efforts to improve diversity across their UK workforces.

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* Collects, but did not disclose, racial diversity data for the UK workforce.

* Did not disclose quantitative UK-specific diversity targets.

* “We signed up to the Race at Work Charter in 2020 and continue to take active steps to identify the current representation of ethnic diversity across our UK employee population in order to measure and maintain progress. We look forward to sharing this in due course,” a spokeswoman said.

* For more information, click here https://careers.bankofamerica.com/en-us/culture/diversity-inclusion

* Founding member of the Partnering for Racial Justice in Business initiative, launched at the World Economic Forum on Jan. 25, alongside Standard Chartered and Deutsche Bank.

* Did disclose racial diversity data for its UK workforce, but did not fully break the term “(BA)ME” down into the constituent racial groups.

* Did not disclose quantitative UK-specific diversity targets.

* Is exploring racial diversity targets and collecting enhanced data. Plans to announce further measures when ready, a spokesman said.

* For more information, click here https://home.barclays/who-we-are/our-strategy/diversity-and-inclusion/multicultural/race-at-work

* Did not disclose racial diversity data for the UK workforce but is in the process of collecting the data, having started a self-identification programme in October 2020.

* Did not disclose quantitative UK-specific diversity targets. A spokeswoman said this is because more employees needed to self-ID before data can be published and targets set.

* “We view ethnicity inclusion as a priority for the UK. We have launched a new HR platform, which has provided a new capability to collect Self-ID information,” said Jenny Grey, head of EMEA HR.

* For more information, click here https://www.citigroup.com/citi/diversity

* Collects, but did not disclose, racial diversity data for the UK workforce. A spokesman said this is because the bank only signed the Race At Work in 2020, having started collecting UK self-ID data in 2019, and that the bank will be enhancing disclosure as part of its annual reporting.

* Did not disclose quantitative UK-specific diversity targets but has global targets to double Black senior headcount and to increase overall Black representation by 50% by 2024.

* Credit Suisse signed up to the BITC Race at Work Charter in 2020 and named UK CEO, David Mathers, as the executive sponsor, accountable for the bank’s actions in making it clear that supporting equality in the workplace is the responsibility of all leaders and managers, a spokesman said.

* For more information, click here https://www.credit-suisse.com/about-us/en/our-company/corporate-responsibility/employer/diversity-inclusion.html

* Collects, but did not disclose, ethnic diversity data for the UK workforce.

* Did not disclose quantitative UK-specific diversity targets.

* Is looking to address under-representation in leadership and to increase the representation of Black talent. Plans to report its ethnicity pay gap data for the first time in a combined gender and ethnicity pay gap report by the end of Q1 2021, a spokeswoman said.

* For more information, click here https://www.db.com/cr/en/our-people/diversity–management.htm

* Collects, but did not disclose, racial diversity data for the UK workforce.

* UK targets: 7% Black employees at vice president level by 2025; 9% Black workers in the UK portion of a group of analysts and entry-level associates.

* Will be publishing Race At Work progress imminently, a spokesman said.

* For more information, click here http://www.goldmansachs.com/our-firm/people-and-culture/index.html#diversity-and-inclusion

* Did disclose racial diversity data for the UK workforce.

* UK targets: to increase the number of Black employees at senior management level from 0.9% to 1.8% by 2025. This is the local equivalent of the global target of doubling the number of Black employees in senior roles by 2025.

* “We aim to improve representation and make sustained measurable progress over time across under-represented groups, particularly at senior management level,” a spokesman said.

* For more information, click here https://www.hsbc.com/our-approach/culture-and-people/diversity-and-inclusion

* Collects, but did not disclose, racial diversity data for the UK workforce. Not enough data has been collected yet to give an accurate picture, a spokesman said.

* Did not disclose quantitative UK-specific diversity targets.

* Regularly encourages employees to self-ID and is working towards publishing racial diversity data in future, a spokesman said.

* Has committed $30 billion to advance racial equality over the next five years, in a bid to provide economic opportunity to underserved communities

* For more information, click here https://www.jpmorganchase.com/about/people-culture/diversity-and-inclusion

* Did disclose racial diversity data for the UK workforce.

* UK targets: to have at least 3% Black representation in senior roles by 2025; to maintain at least 10% (BA)ME representation across all roles and 8% (BA)ME representation in senior management.

* “It is clear that achieving an inclusive environment for everyone is our priority, but right now we have very specific challenges that we have to address urgently for our Black colleagues,” António Horta-Osório, group chief executive, Lloyds Banking Group, said in an emailed comment

“Feedback has provided a clear way forward and as a start, we have established an immediate action plan which focuses on culture, recruitment and progression.”

* For more information, click here https://www.lloydsbankinggroup.com/who-we-are/responsible-business/inclusion-and-diversity.html

* Collects, but did not disclose, racial diversity data for the UK workforce.

* Did not disclose quantitative UK-specific diversity targets.

* “Morgan Stanley takes its responsibilities as a signatory to the Race at Work Charter very seriously. We use internal data on the ethnic composition of our UK workforce to help us drive our EMEA Race Inclusion strategy and track progress regarding recruitment, retention and promotions,” a spokesman said.

* For more information, click here https://www.morganstanley.com/about-us/diversity

* Did disclose racial diversity data for the UK workforce, but did not fully break the term “(BA)ME” down into the constituent racial groups.

* UK targets: 14% (BA)ME representation in the top four leadership levels by 2025; 3% Black representation in the top five leadership levels by 2025.

* Of the 83% of its overall UK workforce who disclose their ethnicity, 16% reported as Black, Asian or minority ethnic, up by 2% from when targets were introduced in 2018. This is also above the UK’s Black, Asian or minority ethnic working age population of 14%.

* In its top four UK leadership levels, where 86% of staff disclose ethnicity, 10% of colleagues identify as Black, Asian and Minority Ethnic, representing a 2% increase since targets were introduced in 2018.

* For more information, click here https://www.natwestgroup.com/who-we-are/working-at-natwest-group/building-a-more-inclusive-bank.html

* Does not collect or disclose racial diversity data for the UK workforce. A spokeswoman said this is because it is not allowed under French law.

* Did not disclose quantitative UK-specific diversity targets.

* “While we don’t currently hold racial diversity data in the UK, we are actively looking at collating this in the UK in 2021,” a spokeswoman said.

* For more information, click here https://www.societegenerale.com/en/responsability/responsible-employer/diversity-and-inclusion

* Did disclose racial diversity data for the UK workforce, but did not fully break the term “(BA)ME” down into the constituent racial groups.

* UK targets: 20% (BA)ME representation in senior roles by 2025; 5% Black representation in senior roles by 2025.

* “We are committed to having a workforce whose nationality and ethnicity is broadly representative of our client base and footprint,” a spokesman said.

* For more information, click here https://www.sc.com/en/about/diversity-and-inclusion

* Did disclose racial diversity data for the UK workforce.

* UK targets: to increase UK (BA)ME headcount at senior level by 40% by the end of 2025; to increase UK Black headcount at senior level by 80% by the end of 2025.

* “While we continue to work towards a higher disclosure rate, in September 2020, [we set] UK aspirations to grow our (BA)ME senior leader headcount by 40% by the end of 2025, increasing our Black senior headcount by 80%, a spokesman said.

“We plan to achieve this by a number of different actions, aligned to the key themes defined by our board – notably, through mentoring, senior exposure of our (BA)ME talent and hiring processes.”

* For more information, click here https://www.ubs.com/global/en/our-firm/our-culture/diversity-and-inclusion/race-ethnicity.html

(Reporting By Sinead Cruise and Elizabeth Howcroft; Editing by Pravin Char)

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