Wall Street is looking at lot more diverse – at least for the summer.
This year’s crop of interns is Bank of America’s “most diverse group ever,” the lender told investors on its second-quarter earnings call. Women comprise 45 percent of the current class – up from 42 percent in 2017 – while non-white interns make up 55 percent. Goldman Sachs . and Wells Fargo report similar numbers.
“What we’ve seen is a lot of our efforts kind of come into fruition,” Elizabeth Schoentube, Bank of America’s head of campus recruiting and program management, said in an interview. “We’re really focused on not just the internship, not just getting them to be analysts, but what’s the career path and how do we get this pipeline to be our future leadership bench?”
Women are already the majority of the Charlotte, North Carolina-based lender’s U.S. employees, making up 54 percent of its workforce in 2017. Employees of color comprised 45 percent, according to company filings. As with other big banks, gender and racial diversity decreases at the highest levels, with women in less than a third of executive and senior-level roles last year and non-whites in less than a fifth.
The same trend plays out across Wall Street. Between 2012 and 2016, the percentage of black senior executives and managers declined at JPMorgan Chase, Citigroup and Goldman Sachs.
www.spokesman.com
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