SVB INCLUDED IN BLOOMBERG GENDER-EQUALITY INDEX FOR FIFTH YEAR
SVB continues work to advance gender equality and build a diverse and inclusive workplace
SANTA CLARA, Calif., Jan. 31, 2023 /PRNewswire/ -- SVB, the financial partner of the innovation economy, today announced that it has been named a member of the Bloomberg Gender-Equality Index (GEI) for a fifth year running. The Bloomberg GEI is a modified market capitalization-weighted index developed to gauge the performance of public companies dedicated to transparency in gender-data reporting. This reference index measures gender equality across five pillars: female leadership & talent pipeline, equal pay & gender pay parity, inclusive culture, anti-sexual harassment policies, and external brand.
SVB provides innovators, enterprises and investors with the services they need to succeed, including commercial and investment banking, wealth planning and capital investing. The company has $212 billion in assets and more than 8,500 employees globally, as of Q4 2022. In 2023, SVB celebrates the 40th anniversary of its founding and four decades serving the innovation economy. The company is located in nine countries and is widely recognized as a champion of the innovation sector, a leader in corporate social responsibility and a great place to work.
"SVB is committed to creating a more diverse and equitable environment and opportunities for all within SVB and in the innovation ecosystem," said Greg Becker, president and CEO of SVB. "We have a responsibility and a unique opportunity to ensure women and people of underrepresented groups can access, contribute to and benefit from the enormous potential of the innovation economy."
"Congratulations to the companies that are included in the 2023 GEI," said Peter T. Grauer, Chairman of Bloomberg. "We continue to see an increase in both interest and membership globally, reflecting a shared goal of transparency in gender-related metrics."
SVB submitted a 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.
"SVB has made important progress in our journey to build a stronger culture of inclusion and an environment where all employees feel connected, celebrated, rewarded and supported," said Angela Lovelace, Chief Diversity, Equity and Inclusion Officer at SVB. "We are proud to be ranked on the Bloomberg GEI yet again and recognized for transparent reporting on our efforts and the progress still to be made."
The 2023 Bloomberg GEI includes 484 companies globally, representing 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.
The Bloomberg survey and 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.
For more information about SVB's commitment to equity and related disclosures, please visit the Living Our Values section of svb.com: https://www.svb.com/about-us/living-our-values
For more information on the Bloomberg GEI and how to submit information for next year's index visit: https://www.bloomberg.com/gei.
SVB is the financial partner of the innovation economy, helping individuals, investors and the world's most innovative companies achieve their ambitious goals. SVB's businesses - Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities - together offer the services that dynamic and fast-growing clients require as they grow, including commercial banking, venture investing, wealth planning and investment banking. Headquartered in Santa Clara, California, SVB operates in centers of innovation around the world. Learn more at svb.com/global.
SVB Financial Group (SVB) (Nasdaq: SIVB) is the holding company for all business units and groups. © 2023 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB SECURITIES, SVB PRIVATE, SVB CAPITAL and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. [SIVB-F]
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SOURCE SVB Financial Group