Bank of America named 360 managing directors, with more than half of the promotions awarded to women or people of color, according to people with knowledge of the matter.
The appointments mark the third consecutive year that diverse groups made up the majority of the class, one of the people said, asking not to be identified discussing personnel matters. The executives were notified in recent days, according to the people.
The company elevated 86 executives to the managing director level in its global corporate and investment-banking unit, the person said. That business includes global capital markets, investment banking, corporate banking and transaction services.
Bank of America also named 93 new managing directors to its global markets business, the people said.
Like its Wall Street competitors, Bank of America has been striving to improve diversity across the company and in its senior positions. The big banks have pledged to promote more women and minorities, a push that's intensifying as competition for top talent heats up across the industry.
A Bank of America representative declined to comment.
The Charlotte, North Carolina-based bank also rewarded the majority of its employees with a pool of restricted stock, Bloomberg News reported earlier this week. The incentive, which comes on top of regular compensation, goes to staff who earn as much as $500,000 in total annual pay.
