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| No. 18 |
HSBC BANK USA, NA |
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Specialty Lists: No. 2 on The Top 10 Companies for Supplier Diversity, No. 5 on The Top 10 Companies for Asian Americans, No. 10 on The Top 10 Companies for Latinos
Industry: Financial Services
Main Competitors: Bank of America, Citigroup, JPMorgan Chase
U.S. Headquarters: New York, N.Y.
Number of U.S. Employees: 300,000
Annual Revenue: $5.3 billion
% of Operations Outside U.S.: 9.75 |
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| HSBC Bank USA, NA |
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Why It's on the Top 50: This bank gets very high marks for Supplier Diversity and Corporate and Organizational Communications. This is its sixth year on the Top 50.
Diversity Strengths: President and CEO Paul J. Lawrence gets a near perfect score for CEO Commitment. He personally signs off on compensation tied to diversity (25 percent of senior-executive bonuses are tied to diversity), heads the diversity council and appoints its members, meets regularly with employee-resource groups, and personally reviews diversity metrics and progress.
The bank has mandatory diversity training for its entire work force, which is offered every month. HSBC also surveys employees on diversity annually, using focus groups. Diversity is also factored into exit interviews.
HSBC reports that 17.8 percent of its procurement budget is spent with minority-owned Tier I (direct contractors), compared with 5 percent for the Top 50 average. And 20 percent of its Tier I procurement budget is spent with women-owned suppliers. In addition, 6 percent of its procurement budget is spent with Tier I suppliers owned by people with disabilities and 3 percent with suppliers owned by veterans with disabilities.
Paul Lawrence, President and CEO: "As the world's local bank, we pride ourselves on diversity. At HSBC, diversity is not just a policy--it is a key driver to our success. To that end, we honor diversity within our organization by not only building an inclusive work environment but by also embracing diversity in our customer base and supply chain."
Cheryl Morrison, HSBC Bank Diversity Initiatives Manager: "At HSBC, we are very fortunate to have a distinct blend of people who bring with them not only a diversity of heritage but a diversity of thoughts. I am specifically proud of the HSBC employee-network groups, as these groups develop diversity events throughout the year, which not only provide our employees with professional development opportunities but also build cultural awareness."
More DiversityInc Articles on HSBC Bank USA, NA:
New Global Gap Between Older Workers and Employers
The Interview Must Go On ... Even on Very Bad Days
What to Do If Your Credit Is Bad
U.S. Brokerage Firms Make an Amazing Discovery: Latinos Equal $$$
Helping Others on Thanksgiving
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Paul J. Lawrence
President and CEO | | | | |
Cheryl Morrison
Diversity Initiatives Manager | | | | |
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