- RBS pays first dividend to ordinary shareholders since 2008
- FCA opens a discussion on the impact of climate change and green finance on financial services
- Mastercard launches Bill Pay Exchange
- BNY Mellon appoints new head of Corporate Technology
- UK Finance announces new appointments to board
- Epoch launches world's first public offering of a cryptocurrency and digital assets-related fund
- Fiscal Technologies forms strategic partnership with Moore Stephens to enhance fraud prevention expired
- RBS signs government’s new Race at Work Charter expired
- Bank of America reports strong third-quarter balance sheet expired
- Wells Fargo continues to make progress, says CEO expired
- JPMorgan Chase reports 24% rise in net income for third-quarter 2018 expired
- BlackRock wins Scottish Widows contract after review by Lloyds Banking Group expired
12th June 2018
Bank of America to hire 10,000 people from low- and moderate-income communities
The Consumer and Small Business division of Bank of America is to hire 10,000 individuals from low- and moderate-income neighbourhoods over the next five years. Through its Pathways programme, the company is working with non-profit partners to provide professional skills training and career pathways for members of the communities the bank serves.
“Our business is based on client relationships, and we continuously seek great people in our financial centres and contact centres to build those relationships locally,” said Dean Athanasia, president and co-head of Consumer and Small Business. “By hiring from the communities we serve and helping our teammates develop their careers at the bank, we are helping our clients – and employees – lead better financial lives.”
Working with national non-profit partners, Bank of America is building a pipeline of local talent to connect to sustainable jobs. Some partners, such as ‘Year Up’ and ‘UnidosUS’, empower career-ready individuals to gain an entry point to full-time employment. Others, like ‘Boys & Girls Clubs of America’ and ‘Urban Alliance’, provide opportunities for younger individuals to gain valuable skills for a future career.
For participants who accept a position at Bank of America, their training comes through The Academy, Bank of America's training and career development programme that supports more than 66,000 Consumer and Small Business employees. The Academy offers instruction from subject matter experts, dedicated training time, peer mentors, immersion programmes, hands-on experiential learning, and innovative digital tools that encourage employees to take personal ownership of their careers.
“The Academy is like a university within the company that instils our client-centric culture and guides our teammates throughout their career, not just in carrying out their job,” said John Jordan, head of the Academy and Advisor Development at Bank of America. “By investing in developing our current and future workforce at all points along their career journeys, we deliver on being a great place to work.”