Diversity and equality

The sale could end minority ownership for Alamerica Bank in Alabama, further reducing the number of Black-owned banks in the U.S.

Financial services companies tend to push out older employees. That’s a mistake, both because of the loss of institutional knowledge and because it’s older bankers who can build the best rapport with boomer customers.

Recruiting from competitors can be hard to pull off, and it won't create more equity in the industry. Some of the Best Banks to Work For are finding ways to develop, support and promote women who are already on the payroll.

Adelphi Bank in Columbus, Ohio, would be just the nation’s fourth depository with a predominantly African American board of directors. “The hope is that we change lives,” said Jordan Miller Jr., who would serve as president and CEO.

Morgan Stanley is introducing an initiative to draw more young people from diverse backgrounds to the finance industry, furthering its outreach efforts a week after appointing to the bank’s board its first woman of color.

The card network chose the majority-Black city as the site of its new operations center in part to improve the racial makeup of its workforce and create a new path to leadership for minorities.

The largest of the 2021 Best Banks to Work For, those with more than $10 billion of assets, are trying new recruiting tactics and ramping up diversity efforts.

The Pennsylvania community bank lacked the resources to go all-in on developing a diversity, equity and inclusion policy, so it turned to grad students at Georgetown University for help.

The bank is partnering with Anthemis to match investors with female entrepreneurs, who according to Findexable research attract just 1.5% of investment in the sector.

The U.S. Treasury is creating a new role of point person for racial equity, hiring JPMorgan Chase veteran Janis Bowdler for the job.

The third-party investigation will assess the bank’s progress on a pledge to spend at least $1 billion providing mortgages, small-business loans and other banking services in underserved neighborhoods.

The Indiana company told investors that it’s ready to complete its combination with First Midwest Bancorp but that it’s unclear whether a recently filed mortgage discrimination lawsuit will get in the way of Fed approval.

This past year has proven that traditional leadership models will not take us forward. Attracting and retaining talent, especially diverse talent, depends on how well we listen to and understand the many changes in what employees value.

The president and CEO is building a pipeline of top female talent by placing more women in revenue-producing roles.

Quinn, who joined U.S. Bancorp in 2013 as chief marketing officer and is now the chief administrative officer, is taking a leadership role in the company's digital national branding campaign.

As general counsel, Friedman brought together her counterparts at 11 other banks to pen an open letter to the global legal community, urging it to be more inclusive and to take bold action to combat racism.

The president and CEO of the $350 million-asset Citizens is redefining the role of a community banker.

Patterson has restructured the legal department's Diversity, Equity & Inclusion Council, adding more roles for the leadership team in an effort to improve diversity in the department.

As part of American Banker's Most Powerful Women in Banking and Finance program, we have selected five "Top Teams" for 2021. Centric Financial is one of the team honorees.

As part of American Banker's Most Powerful Women in Banking and Finance program, we have selected 25 women who stand out in specific categories that have taken on increasing importance lately, including human resources, risk and ESG.