Index Doubles in Size, Recognizing 52 Firms Across EMEA, APAC and the Americas
Press Release – January 23, 2017 – NEW YORK/LONDON – Bloomberg today announced the 2017 Financial Services Gender-Equality Index (BFGEI), providing investors and organizations with unique insight into the statistics, policies, product offerings and external engagement driving 52 firms’ commitment to building gender-equal workplaces. Bloomberg also introduced a Fixed Income Gender-Equality Index, representing investment grade debt issued by the 2017 BFGEI member firms.
“Companies are increasingly focused on managing operational risks, including the attraction and retention of employees,” said Angela Sun, Head of Strategy and Corporate Development at Bloomberg. “As investors look for new drivers of risk-aware alpha, the demand for data around gender equality and other social and governance metrics continues to grow. The BFGEI brings greater transparency to the practices and policies crucial to managing those risks and attracting investor capital.”
The 2017 BFGEI recognizes firms headquartered in 17 countries, expanding to Australia, Brazil, India, Japan, Hong Kong, Malaysia, Mexico, Sweden and Turkey. All demonstrated dedication to disclosure and best-in-class social policies and practices, providing Bloomberg with data across areas such as gender-equal compensation, supplier diversity programs, and retention rates of women clients.
Highlights from this year’s index include:
- 2017 BFGEI member firms have an average of 24.2% female representation on boards.
- The percentage of female executives at 2017 BFGEI member firms increased by 25.2% between fiscal year 2014 and 2015.
- 73% require a gender-diverse slate of candidates for management roles.
- 83% offer or sponsor financial education programs for women in their communities.
- Nine firms track repayment rates by gender.
- 75% provide return to work programs for women.
“We are encouraged by the significant expansion of this year’s index, and by the leadership each of our member firms has demonstrated,” said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the U.S. 30% Club. “Their commitments to building diverse and inclusive work environments are setting new standards around the globe and raising awareness around the challenges all of our organizations face.”
The inaugural 2016 BFGEI launched in May 2016 and included 26 firms headquartered in seven countries.
Firms interested in participating submitted a social survey created by Bloomberg in partnership with third-party experts, including Women’s World Banking, Catalyst, and Working Mother Media. Those included on this year’s index scored at or above 60 points, a global threshold established by Bloomberg and our partners to reflect disclosure and the achievement or adoption of best-in-class statistics and policies. Both the survey and the BFGEI are voluntary and have no associated costs. Bloomberg collected this data for reference purposes only. The index is not ranked. For more information on the BFGEI and how to submit information for next year’s Index, please visit: https://www.bloomberg.com/professional/sustainable-finance/
Bloomberg clients can access the BFGEI at {BFGEI Index DES <GO>} and the Fixed Income Gender-Equality Index at {BBFGEI Index DES<GO>}.
2017 Bloomberg Financial Services Gender-Equality Index Member Firms
AIA Group
Allianz
American Express
Australia & New Zealand Banking
AXA
Banco Santander
Bank of America
Bank of Montreal
Bank of New York Mellon
Bank of Queensland
Barclays
BB Seguridade Participacoes
BNP Paribas
CIBC
Citigroup
Daiwa Securities
Deutsche Bank
Fifth Third Bancorp
First Data
Franklin Resources
Grupo Financiero Banorte SAB de CV
Hang Seng Bank
The Hartford
HDFC Bank
ING Groep
Itau Unibanco Holding
JPMorgan Chase
Malayan Banking
Mastercard
MetLife
Mitsubishi UFJ Financial
Mizuho Financial
Morgan Stanley
MS&AD Insurance
Nordea Bank
Old National Bancorp
Park National
PNC Financial Services
Prudential
QBE Insurance
RBC
Royal Bank of Scotland
Standard Chartered
State Street
Swedbank
Toronto-Dominion Bank
Turkiye Garanti Bankasi
UBS
Visa
Voya Financial
Westpac Banking
Zurich Insurance
The following firms outside of the 2017 BFGEI universe criteria are recognized for their commitment to disclosure around gender equality by voluntarily submitting GEI survey data: Banco Popular, Clorox, L’Oreal
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