Diversity and equality

The program is aligned with an initiative Bank of Montreal started in 2019 to double its support for small businesses and female entrepreneurs.

Toronto-Dominion Bank is adding child day care and elder care as eligible expenses for employees’ wellness accounts as lenders battle for talent and try to build workforces with greater diversity.

Citigroup created a new team inside its trading division that will focus on working closely with minority depository institutions and diverse broker-dealers and asset managers.

Helena Haynes-Carter will lead the Cleveland bank’s efforts to hire and retain a diverse pool of employees.

The advisors’ success offers lessons for aspiring wealth professionals and brokerages aiming to change a predominantly white and male industry.

The question is unfair to people who have never been found guilty or have been accused of minor offenses. It’s especially unfair to minority applicants.

What else do banks need to do to achieve gender parity more quickly? What are the tech innovations that will be most impactful for the banking industry? What will the surviving banks look like a decade from now?

State Street Global Advisors, one of the world’s biggest asset managers, said all global companies in which it invests must have at least one woman on their boards to gain the firm’s support during the upcoming proxy season.

Billions of government and corporate dollars are pouring into minority banks and community development lenders, complicating the efforts of some investment funds that had similar goals. Still, banks owned and run by African Americans say the equity infusions are small in the context of the nation’s wide racial wealth gap.

Central bankers need to speak up about economic barriers prompted by racism and the need for inclusion and diversity, Federal Reserve Bank of Atlanta President Raphael Bostic said, a response to critics who see the work as a distraction from the Fed’s main goals.