Recognizes commitment to advancing women in the workplace
CINCINNATI--(BUSINESS WIRE)--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.
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.
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About a third, 34 percent, have programs to recruit women looking to
return to work after a career break.
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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.
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Forty-three percent of firms cover gender reassignment services in
health insurance plans.
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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 }.
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.
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Media Contacts:
Danielle Jones
Fifth Third Bank
513-534-0162
513-534-NEWS
Veronika Henze
Bloomberg LP
+1-646-324-1596
vhenze@bloomberg.net
Jacqueline Gogel
Vested
+1-917-765-8720
jacqueline@fullyvested.com