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Fifth Third Bank Selected to 2019 Bloomberg Gender-Equality Index

January 17, 2019

CINCINNATI--(BUSINESS WIRE)--Jan 17, 2019--Fifth Third Bank today announced that it is one of 230 companies included on the 2019 Bloomberg Gender-Equality Index. The index distinguishes companies committed to transparency in gender reporting and to advancing women’s equality.

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Jule Kucera, Fifth Third’s chief diversity and corporate social responsibility officer (Photo: Business Wire)

The index doubled in size from 2018 and this year includes firms from 10 sectors headquartered across 36 countries and regions. Collectively, these firms have a combined market capitalization of $9 trillion and employ more than 15 million people, of which 7 million are women. Among 13 markets represented for the first time this year are Argentina, China, Israel and South Africa.

Jule Kucera, Fifth Third’s chief diversity and corporate social responsibility officer, said initiatives that focus on gender equality and mitigating biases can lead to better outcomes for society and business. “We are intentional about creating an inclusive environment where men and women have equitable opportunity to belong, to contribute and to advance,” she said.

Bloomberg’s standardized reporting framework offers public companies the opportunity to disclose information on how they promote gender equality across four areas – company statistics, policies, community engagement, and products and services. Reporting companies that score above a globally established threshold, based on the extent of disclosures and the achievement of best-in-class statistics and policies, are included in the GEI. Demand for products and services using ESG data has seen a significant increase over the last years as a growing number of investors seek to incorporate environmental, social and governance data into their investment decisions. Still, currently only about 10 percent of eligible companies disclose their workplace gender policies and practices.

“We applaud Fifth Third and the other 229 firms tracked by the index for their actions to measure gender equality through the Bloomberg GEI framework,” said Peter T. Grauer, chairman of Bloomberg and founding chairman of the U.S. 30% Club. “Fifth Third’s GEI inclusion is a strong indicator to its employees, investors and industry peers alike that it is leading by example to advance ongoing efforts for a truly inclusive workplace.”

Disclosures from firms included in the 2019 GEI provide a wide-ranging and comprehensive look at how companies around the world are investing in women. According to GEI data:

There was a 40 percent increase from fiscal 2014 to 2017 in the number of executive-level positions held by women. Sixty percent of firms conduct compensation reviews to identify gender-based variations in pay. That pay gap averages 20 percent overall; it’s 18 percent in the Americas, Europe, Africa and Middle East regions and 26 percent in the Asia-Pacific region. About a third, 34 percent, have programs to recruit women looking to return to work after a career break. For U.S. employees, the average number of weeks of fully paid primary leave offered is 13 weeks, and the average number of weeks of fully paid secondary leave offered is five weeks. Forty-three percent of firms cover gender reassignment services in health insurance plans. More than two-thirds of firms, 68 percent, evaluate all advertising and marketing content for gender bias prior to publication.

The Bloomberg gender reporting framework is voluntary and has no associated costs. The GEI is a reference index. All public companies with a security listed on a U.S. exchange and a market capitalization of at least $1 billion are eligible to submit data for inclusion on the index. For more information on the GEI and how to submit information for next year’s index visit: bloomberg.com/professional/solution/gender-equality-index.

Bloomberg subscribers have access to the GEI at {BGEI Index DES <GO>}. Terminal users will have access to the fully updated index on Jan. 18.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio and the indirect parent company of Fifth Third Bank, an Ohio-chartered bank. As of Sept. 30, 2018, Fifth Third had $142 billion in assets and operated 1,152 full-service Banking Centers and 2,443 ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of Sept. 30, 2018, had $376 billion in assets under care, of which it managed $38 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Deposit and Credit products are offered by Fifth Third Bank. Member FDIC.

About Bloomberg:

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit www.bloomberg.com or request a demo.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190117005497/en/

CONTACT: Media Contacts:

Danielle Jones

Fifth Third Bank

513-534-0162

513-534-NEWSVeronika Henze

Bloomberg LP

+1-646-324-1596

vhenze@bloomberg.netJacqueline Gogel

Vested

+1-917-765-8720

jacqueline@fullyvested.com

KEYWORD: UNITED STATES NORTH AMERICA OHIO

INDUSTRY KEYWORD: WOMEN PROFESSIONAL SERVICES BANKING FINANCE HUMAN RESOURCES COMMUNICATIONS OTHER COMMUNICATIONS CONSUMER

SOURCE: Fifth Third Bank

Copyright Business Wire 2019.

PUB: 01/17/2019 10:28 AM/DISC: 01/17/2019 10:29 AM

http://www.businesswire.com/news/home/20190117005497/en

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