Fifth Third Bank Selected to 2019 Bloomberg Gender-Equality Index
January 17 2019 - 10:28AM
Business Wire
Recognizes commitment to advancing women in
the workplace
Fifth Third Bank today announced that it is one of 230 companies
included on the 2019 Bloomberg Gender-Equality Index. The index
distinguishes companies committed to transparency in gender
reporting and to advancing women’s equality.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190117005497/en/
Jule Kucera, Fifth Third’s chief
diversity and corporate social responsibility officer (Photo:
Business Wire)
The index doubled in size from 2018 and this year includes firms
from 10 sectors headquartered across 36 countries and regions.
Collectively, these firms have a combined market capitalization of
$9 trillion and employ more than 15 million people, of which 7
million are women. Among 13 markets represented for the first time
this year are Argentina, China, Israel and South Africa.
Jule Kucera, Fifth Third’s chief diversity and corporate social
responsibility officer, said initiatives that focus on gender
equality and mitigating biases can lead to better outcomes for
society and business. “We are intentional about creating an
inclusive environment where men and women have equitable
opportunity to belong, to contribute and to advance,” she said.
Bloomberg’s standardized reporting framework offers public
companies the opportunity to disclose information on how they
promote gender equality across four areas – company statistics,
policies, community engagement, and products and services.
Reporting companies that score above a globally established
threshold, based on the extent of disclosures and the achievement
of best-in-class statistics and policies, are included in the GEI.
Demand for products and services using ESG data has seen a
significant increase over the last years as a growing number of
investors seek to incorporate environmental, social and governance
data into their investment decisions. Still, currently only about
10 percent of eligible companies disclose their workplace gender
policies and practices.
“We applaud Fifth Third and the other 229 firms tracked by the
index for their actions to measure gender equality through the
Bloomberg GEI framework,” said Peter T. Grauer, chairman of
Bloomberg and founding chairman of the U.S. 30% Club. “Fifth
Third’s GEI inclusion is a strong indicator to its employees,
investors and industry peers alike that it is leading by example to
advance ongoing efforts for a truly inclusive workplace.”
Disclosures from firms included in the 2019 GEI provide a
wide-ranging and comprehensive look at how companies around the
world are investing in women. According to GEI data:
- There was a 40 percent increase from
fiscal 2014 to 2017 in the number of executive-level positions held
by women.
- Sixty percent of firms conduct
compensation reviews to identify gender-based variations in pay.
That pay gap averages 20 percent overall; it’s 18 percent in the
Americas, Europe, Africa and Middle East regions and 26 percent in
the Asia-Pacific region.
- About a third, 34 percent, have
programs to recruit women looking to return to work after a career
break.
- For U.S. employees, the average number
of weeks of fully paid primary leave offered is 13 weeks, and the
average number of weeks of fully paid secondary leave offered is
five weeks.
- Forty-three percent of firms cover
gender reassignment services in health insurance plans.
- More than two-thirds of firms, 68
percent, evaluate all advertising and marketing content for gender
bias prior to publication.
The Bloomberg gender reporting framework is voluntary and has no
associated costs. The GEI is a reference index. All public
companies with a security listed on a U.S. exchange and a market
capitalization of at least $1 billion are eligible to submit data
for inclusion on the index. For more information on the GEI and how
to submit information for next year's index visit:
bloomberg.com/professional/solution/gender-equality-index.
Bloomberg subscribers have access to the GEI at {BGEI Index DES
<GO>}. Terminal users will have access to the fully updated
index on Jan. 18.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio and the indirect parent company
of Fifth Third Bank, an Ohio-chartered bank. As of Sept. 30, 2018,
Fifth Third had $142 billion in assets and operated 1,152
full-service Banking Centers and 2,443 ATMs with Fifth Third
branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida,
Tennessee, West Virginia, Georgia and North Carolina. In total,
Fifth Third provides its customers with access to approximately
53,000 fee-free ATMs across the United States. Fifth Third operates
four main businesses: Commercial Banking, Branch Banking, Consumer
Lending and Wealth & Asset Management. Fifth Third is among the
largest money managers in the Midwest and, as of Sept. 30, 2018,
had $376 billion in assets under care, of which it managed $38
billion for individuals, corporations and not-for-profit
organizations through its Trust and Registered Investment Advisory
businesses. Investor information and press releases can be viewed
at www.53.com. Fifth Third’s common stock is traded on the Nasdaq®
Global Select Market under the symbol “FITB.” Fifth Third Bank was
established in 1858. Deposit and Credit products are offered by
Fifth Third Bank. Member FDIC.
About Bloomberg:
Bloomberg, the global business and financial information and
news leader, gives influential decision makers a critical edge by
connecting them to a dynamic network of information, people and
ideas. The company’s strength – delivering data, news and analytics
through innovative technology, quickly and accurately – is at the
core of the Bloomberg Terminal. Bloomberg’s enterprise solutions
build on the company’s core strength: leveraging technology to
allow customers to access, integrate, distribute and manage data
and information across organizations more efficiently and
effectively. For more information, visit www.bloomberg.com or
request a demo.
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Media Contacts:Danielle JonesFifth Third
Bank513-534-0162513-534-NEWS
Veronika HenzeBloomberg
LP+1-646-324-1596vhenze@bloomberg.net
Jacqueline GogelVested+1-917-765-8720jacqueline@fullyvested.com
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