A diverse, equitable, and inclusive (DEI) organization brings unique perspectives and ideas that make the enterprise more innovative, productive, and resilient. In addition, it promotes equality of opportunity and treatment at all levels of the employment relationship, including recruitment, retention, promotion, remuneration, and training.
There is a growing focus on racial equity within banking companies and increased efforts to lift underrepresented groups such as Asians, Blacks, and Hispanics. JP Morgan Chase established Advancing Hispanics & Latinos ("AHL") and the Office of Asian & Pacific Islander ("API") Affairs in 2021 for the growth of respective communities. In 2021, Citigroup had invested over $1 billion in strategic initiatives to help close the racial wealth gap and increase economic mobility in the US.
Credit Suisse, JPMorgan Chase, Citigroup, Bank of America, and Barclays are the major banking companies with a significant representation of underrepresented groups.
Credit Suisse is a provider of integrated financial solutions. In 2021, the representation of Asian employees in the US workforce was 25.4% which increased by 3.2 percentage points from 2020. Black & African American and Hispanic & Latino employees represented 5.3% and 5.1% of the US workforce.
JPMorgan Chase & Co is an American investment bank that provides various banking services such as retail banking, commercial banking, advisory, wealth management, and credit card services. In 2021, the representation of Asian employees in the US workforce was 17% which increased by 1 percentage point from 2020. Black & African American and Hispanic & Latino employees represented 14% and 20% of the US workforce.
Citigroup is a provider of diversified financial services. In 2021, the representation of Asian employees of Citigroup in the US was 19% which increased by 2 percentage points from 2020. Black & African American and Hispanic & Latino employees represented 11% and 18% of the US workforce.
Bank of America is a bank and financial holding company that offers a range of banking products, wealth management services, and other related financial solutions through its subsidiaries. In 2021, the representation of Asian employees of Bank of America in the US workforce was 13.3%. Black & African American and Hispanic & Latino employees represented 13.3% and 18.5% of the US workforce.
Barclays is a global financial services provider offering personal and business banking, wholesale and commercial banking, and private and investment banking solutions to individuals, SMEs, corporates, and high-net-worth clients. In 2021, the representation of Asian employees of Barclays was 42.1% which increased by 3.1 percentage points from 2020. Black and Hispanic & Latino employees represented 3.1% and 1.1% of the workforce.
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