Think diversity doesn't affect profits? Think again. Research indicates that the most highly diverse executive management teams generate far greater revenues and profits than those organizations with the lowest percentage of women on their executive teams. In its third-annual ranking of the Top 3 Banking Teams, U.S. Banker examines the effect of gender diversity on the overall performances of top U.S. financial institutions-something that savvy CEOs and their boards are paying closer attention. The magazine ranked U.S. Bancorp No. 1 for the third straight year, followed by Zions First National Bank, which makes its debut in the ranking this year at No. 2, and Citigroup, which is ranked No. 3, dropping from second place in 2007.
The magazine based its decision on a number of factors: the institution's overall year-to-date financial performance as a company; the percentage of women corporate officers; the total percentage of senior women executives firmwide; the overall financial performance of women-led business units and functional areas; and projected growth engines led by women.
Team calculations are based on first-half performance numbers for 2008. Unlike The 25 MPWIB ranking, the team methodology does not require women to hold their positions for 12 months. The intent of the ranking is to give readers another lens through which to view the collective performances of women and the impact they are having on their financial institutions.
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