Workplace

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?

Full-time equivalent, as of Sept. 30, 2021. Dollars in thousands.

Year to date through Sep. 30, 2021. Dollars in thousands.

Citigroup said 99% of its U.S. employees have complied with its vaccine mandate, one of the strictest on Wall Street. 

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.

The largest U.S. bank by assets is declining to institute a companywide mandate like Citigroup and is instead tailoring its rules to local requirements.

Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.

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. 

Citigroup as the first major Wall Street bank to impose a strict COVID-19 vaccine mandate: Get a shot or face termination. With its deadline fast approaching, the company is preparing for action.

Bank of America is donating $100 to local food banks and hunger-relief organizations for employees who register their COVID-19 booster.

American Express will give employees two weeks’ notice before it starts bringing a larger number of staffers back to its offices. The credit card giant had previously said it intended to start bringing back employees on Jan. 24.

Bank of America hired Benjamin Saunders from JPMorgan Chase for its financial institutions investment banking business.

David Ratliff will lead all corporate and institutional client coverage teams in the Asia Pacific region, including corporate banking, financial institutions, and the global institutional client group, according to an internal memo.

Banks and credit unions need to do more for (and assume less about) customers who are over 50, says Theo Lau, founder of the advisory firm Unconventional Ventures.

JPMorgan Chase hired Ben Ratner from the Environmental Defense Fund to help advise banking clients on lowering their carbon footprint to combat climate change.

If there's one thing the Great Resignation has taught us it's that workers crave flexibility and autonomy. In banking, younger and midcareer executives are becoming self-employed or gravitating toward fintech.

Wall Street’s push to refill office towers across the country has been derailed again. This time it’s the highly transmissible omicron variant of the COVID-19 virus that’s forced executives to rethink their plans.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

Goldman Sachs Group, one of Wall Street’s staunchest advocates of returning employees to offices, will make COVID-19 vaccination booster shots compulsory as the firm stands by its workplace philosophy through surging infection rates in New York.