Merrill Lynch Gets More Transparent on Diversity
DEIDiversityFinancial ServicesHuman ResourcesDiversity, Equity, and Inclusion Advisory
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August 21, 2020
DEIDiversityFinancial ServicesHuman ResourcesDiversity, Equity, and Inclusion Advisory
​The move by Merrill, a unit of Ba​nk of America, comes against the backdrop of the ongoing Black Lives Matter movement and a renewed focus on Wall Street’s poor diversity record.
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Barron’s

The Barron’s article, “Merrill Lynch Gets More Transparent​​​ on Diversity,” quoted Russell Reynolds Associates Consultant Tina Shah Paikeday​ on ways companies are holding themselves accountabl​​e for improving diversity initiatives. The article is excerpted below. 

Merrill Lynch has, for the first time in many years, released detailed data on the racial and gender makeup of its financial advisor corps, a step that diversity advoc​​ates have urged the big Wall Street brokerage firms to take. 

​The move by Merrill, a unit of Ba​nk of America, comes against the backdrop of the ongoing Black Lives Matter movement and a renewed focus on Wall Street’s poor diversity record. 

…​​ 
 

“Stating [diversity] numbers publicly really does hold companies accountable for where they stand today and where they would like to go,” said Tina Shah Paikeday, global head of diversity and inclusion advisory services at Russell Reynolds Associates, a New York City-based executive search an​​​d consu​​lting firm. “We’re seeing increasing numbers of boards getting involved in tracking and holding companies accountable for those metrics.” 

To rea​d the full article, click here.