Included in inaugural Bloomberg Financial Services Gender-Equality Index for valuing and leveraging gender differences
TORONTO, May 3, 2016 /CNW/ - CIBC (TSX: CM) (NYSE: CM) is pleased to announce that it is one of 26 companies worldwide to be recognized for its ongoing commitment to gender diversity in the 2016 Bloomberg Financial Services Gender-Equality Index (BFGEI). The new index provides investors and organizations with standardized aggregate data across company gender statistics; employee policies; gender-conscious product offerings; and external community support and engagement.
"CIBC is pleased to be included in this new Bloomberg index, which reflects our strongly held belief that when you value and leverage gender differences, you build a stronger, more dynamic company," says Kevin Patterson, Senior Executive Vice President of Technology and Operations, CIBC, and chair of the bank's gender diversity and inclusion executive committee. "By encouraging diversity of thought in the workplace and boardroom, we can better understand our clients in order to create innovative products and services."
To be included in the BFGEI, companies had to demonstrate strong commitments to gender equality, including dedicated social disclosure policies and practices. Member firms are scored at or above 60 points, a global threshold established by Bloomberg to reflect disclosure and the achievement or adoption of best-in-class statistics and policies. The index is not ranked.
CIBC female executives have been listed among the Top 100 Most Powerful Women in Canada 14 times over the past decade by Women's Executive Network. Two of them – Laura Dottori-Attanasio, Senior Executive Vice-President and Chief Risk Officer, and Christina Kramer, Executive Vice-President, Retail Distribution and Channel Strategy – have also been inducted into the WXN Hall of Fame.
CIBC is a long-time supporter of Catalyst Canada, and Chief Executive Officer Victor Dodig last year became chairman of the 30% Club in Canada, which believes that gender balance on Boards and in C-Suites encourages better leadership and governance, contributing to better all-round corporate performance for both companies and shareholders which champions female business leaders. Women currently represent 35 per cent of the CIBC board.
Recently, CIBC was also recognized as:
- One of Canada's Best Diversity Employers, Top Employers for Young People, Greater Toronto's Top Employers and Canada's Top 100 Employers by Mediacorp
- One of Canada's Best 50 Corporate Citizens by Corporate Knights
- One of the Top 50 Socially Responsible Corporations by Maclean's magazine and Sustainalytics
- One of the Best Workplaces for Women by The Great Place to Work Institute® 2015
- One of the 50 Most Engaged Workplaces™ in Canada by Achievers
CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units – Retail and Business Banking, Wealth Management and Capital Markets – CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC on our corporate website at www.cibc.com/ca/media-centre/.
Image with caption: "Bloomberg Financial Services Gender-Equality Index (CNW Group/CIBC)". Image available at: http://photos.newswire.ca/images/download/20160503_C3486_PHOTO_EN_680866.jpg
For further information: Caroline Van Hasselt, Director, Media Relations and External Communications, CIBC, 416-784-6699 or firstname.lastname@example.org