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Specialty Lists: No. 3 on The Top 10 Companies for Asian Americans, No. 9 on The Top 10 Companies for LGBT Employees
Industry: Financial Services
Main Competitors: Credit Suisse, Goldman Sachs, Morgan Stanley
U.S. Headquarters: New York, N.Y.
Number of U.S. Employees: 56,000
Annual Revenue: $62.7 billion
% of Operations Outside U.S.: 37 |
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| Merrill Lynch & Co. |
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Why It's on the Top 50: One of the only brokerage firms that has made a commitment to diversity, Merrill Lynch is very strong in its Corporate and Organizational Communications of its diversity goals and successes.
Diversity Strengths: With unbiased retention in its work force and management across race/ethnicity and gender, Merrill Lynch clearly has a diverse pipeline of talent for all levels of the organization.
The firm has strong employee-resource groups, which it has had for more than 10 years. They are funded by the company, meet during the workday, and have a senior executive as a member of each of them. The company also has a deep loyalty to its LGBT employees, which is demonstrated by the variety of benefits it provides to same-sex partners of employees.
Merrill Lynch spends almost 18 percent of its advertising budget with multicultural media, compared with a Top 50 average of 15 percent. Merrill Lynch also bolsters community relationships by offering training and financial assistance to its minority- and women-owned suppliers.
The company gets high marks for its commitment to its diversity values globally, offering mandatory diversity training worldwide, and ensuring both employees and their families are culturally competent wherever they are stationed.
Chairman and CEO John A. Thain: "Merrill Lynch's business is about transforming a diversity of ideas into opportunities and solutions for our clients. We believe that the strongest ideas driving our business benefit from a wide range of perspectives."
Managing Director and Head of Global Diversity and Inclusion Subha Barry: "Diversity and inclusion are critical to the future of Merrill Lynch and we have worked very hard to create an innovative and collaborative environment where people are valued and comfortable joining because they know that performance is what matters. Being among DiversityInc's top 10 companies puts Merrill Lynch among the best companies in America when it comes to diversity and inclusion and is a validation that the focus across our businesses and regions on these critical issues is paying off."
More DiversityInc Articles on Merrill Lynch & Co.:
Why Are So Few CEOs People of Color and Women?
The Best 4 Ways to Recruit Employees With Disabilities
Why Your Company Needs Employee-Resource Groups
Employee-Resource Groups: What's In a Name?
Should You Reveal Your Disability in a Job Interview?
How Corporate Philanthropy Changed After Sept. 11
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