Bank of America last to scrap Dei targets

Lananh Nguyen and Niket Nishanant
| Reuters

Bank of America Bac.n has scraped some of her diversity initiatives when she navigates a new business climate under US President Donald Trump.

The second largest US loan gave indications of its diversity settings and a rule, according to the setting manager, a diverse group of candidates were considered after an annual registration on Tuesday.

The changes turn away from the guidelines that were determined in the proxy declaration of the bank last year.

“We evaluate and adapt our programs in the light of new laws, court decisions and recently of the new administration executive contracts,” said a banking spokesman.

“Our goal was and is and is still to provide all of our customers, shareholders, teammates and the communities that we serve.”

Several companies have alleviated their attitude towards diversity, justice and inclusion in the last weeks after Trump’s office took office. The new administration has taken steps to roll back the federal government and private sector programs.

The Citigroup CN has made the requirement to have a diverse selection of candidates for interviews, while Goldman Sachs GS.N ended his policy to open only those companies with at least two different board members.

“We have always been a bank of the opportunity … We have a very diverse company in relation to representation from economic classes, all breeds and all ethnic groups,” said Brian Moynihan, CEO of Bofa, at a conference on Tuesday. “As soon as you get in, the opportunity is there.”

Last year, the bank advertised 387 employees in the functions of the managing directors in 2024, more than half of whom were women and color residents.

Reporting by Lananh Nguyen in New York and Niket Nishanant in Bengaluru; Additional reporting from Saeed Azhar; Processing by Krishna Chandra Eluri and Shounak Dasgupta

(Tagstotranslate) Workplace

Bank of America last to scrap Dei targets

ByAmelia Journalton

By Amelia Journalton

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