Diversity and equality

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.