Bank executives still disproportionately white, NAACP says

Leadership positions at large U.S. banks are predominantly held by whites, according to a new report by the National Assn. for the Advancement of Colored People.

“Equal opportunity for people of color in the United States remains an unrealized goal,” said Lorraine Miller, the NAACP’s chief executive.

The NAACP based its report on a survey of five large U.S. banks: Bank of America, Citibank, JPMorgan Chase, Wells Fargo and U.S. Bank. The banks were asked to identify the race of total employees and those hired and promoted in the calendar year 2011.

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Based on the results, the NAACP gave letter grades to the five banks, with Bank of America and Citibank receiving a C+, JPMorgan and Well Fargo getting a C and U.S. Bank slapped with a D+.

“Top management positions remain firmly dominated by white employees, despite the development of programs to increase diversity and in spite of dramatic increases in the number of highly educated minorities entering the workforce over the past 20 years,” the report said.

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“The banking industry will add nearly 1 million jobs with a living wage and wealth-generating opportunities over the next decade and more people of color are graduating with degrees in accounting, finance, IT, MBAs than ever before,” Miller said. “We look forward to working with leading banks in strengthening their diversity and inclusion efforts and connecting more members of our communities to these opportunities.”

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