The GEI provides insight into an opaque area of ESG data reporting
MEMPHIS, Tenn., Feb. 2, 2023 /PRNewswire/ -- First Horizon Corp. (NYSE:FHN or "First Horizon") today announced that it joins 484 other companies as a member of the 2023 Bloomberg Gender-Equality Index (GEI), a modified market capitalization-weighted index developed to gauge the performance of public companies dedicated to reporting gender-related data. This reference index measures gender equality across five pillars: leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand.
The 2023 GEI reaches globally to represent 45 countries and regions, including firms headquartered in Luxembourg, Ecuador, and Kuwait for the first time. Member companies represent a variety of sectors, including financials, technology, and utilities, which continue to have the highest company representation in the index from 2022.
"First Horizon strives to create a workplace where all associates feel accepted and valued," said Tanya Hart, executive vice president and chief human resources officer at First Horizon. "We believe that championing diversity and inclusion fosters a more creative and innovative workforce. We are proud to be included in the Bloomberg Gender-Equality Index and thank them for this recognition."
First Horizon's strategic approach to diversity, equity and inclusion focuses on elevating equity in the four strategic pillars of workforce, workplace, marketplace, and community.
Workforce: At First Horizon, women represent approximately:
- 63% of total employees
- 61% of revenue-producing roles
- 61% of new hires
- 53% of manager roles
- 50% of the Executive Officers
Workplace: The First Horizon Women's Initiative Associate Resource Group, founded more than 20 years ago, also played a major role in its GEI recognitions. With chapters across the company's footprint, the Women's Initiative helps female associates develop leadership skills, facilitate mentor-mentee relationships and network with leaders and executives.
Marketplace: Realizing that women have unique financial needs, First Horizon created Women and Wealth, a private client practice dedicated to empowering women's financial lives. More information about the practice may be found here. https://www.firsthorizon.com/personal/products-and-services/private-client-category/women-and-wealth
Community: In 2021, Susan Springfield, Chief Credit Officer, served as the American Heart Association's 'Mid-South's Go Red for Women' chair. Through Susan's leadership, more than $325,000 was raised, marking the best 'Mid-South Go Red for Women' campaign to date. Go Red for Women is a national initiative of the American Heart Association that raises awareness of cardiovascular disease as the #1 killer of women.
"Congratulations to the companies that are included in the 2023 GEI," said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the U.S. 30% Club. "We continue to see an increase in both interest and membership globally, reflecting a shared goal of transparency in gender-related metrics."
FIRST HORIZON submitted a social survey created by Bloomberg, in collaboration with subject matter experts globally. Those included on this year's index scored at or above a global threshold established by Bloomberg to reflect disclosure and the achievement or adoption of best-in-class statistics and policies.
Both the survey and the GEI are voluntary and have no associated costs. Bloomberg collected this data for reference purposes only. The index is not ranked. While all public companies are encouraged to disclose supplemental gender data for their company's investment profile on the Bloomberg Terminal, those that have a market capitalization of USD1 billion are eligible for inclusion in the Index.
About First Horizon
First Horizon Corp. (NYSE: FHN), with $79 billion in assets as of December 31, 2022, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank.
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SOURCE First Horizon Corporation