BofA Looks to Link Up Bond Issuers With Minority-Run Banks
Bloomberg 3 hrs ago Molly Smith and Caleb Mutua
(Bloomberg) Bank of America Corp. held a conference last week to connect minority-run banks with companies that borrow in bond markets in an effort to increase diversity in debt underwriting.
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The Charlotte, North Carolina-based lender consistently one of the largest underwriters of U.S. investment-grade corporate bond sales over the last two decades is also looking to increase the proportion of fees that companies direct to minority-owned dealers that join its syndicates for bond sales, said Andrew Karp, the bank’s head of investment-grade capital markets. He declined to provide specific figures.
Bank of America looks to link bond issuers with minority-run banks bostonglobe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bostonglobe.com Daily Mail and Mail on Sunday newspapers.
US executives enjoy extra corporate jet perks under Covid
12 Apr, 2021 12:00 AM
3 minutes to read
Corporate spending on private jets increased 9 per cent over the past year. Photo / 123RF
Financial Times
By: Patrick Temple-West
Big US companies, including Morgan Stanley, Yum Brands and PepsiCo, expanded private jet privileges for top executives last year due to the Covid-19 pandemic, new regulatory filings show. Yum Brands gave its chief executive David Gibbs authority to approve personal travel on the company s jet for other executives, and Morgan Stanley authorised certain executives to use the company s aircraft for personal purposes.
Delivery company UPS gave Brian Newman, its chief financial officer, use of a private jet for personal reasons because of the pandemic but said the perk is not expected to be a regular practice .
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Five of the nation’s largest banks are pushing shareholders to reject racial equity resolution audits after expressing solidarity with the Black Lives Matter movement.
According to
Shareholders are urging their banks to have their practices and policies reexamined by a third party to identify ways to avoid the negative impact on communities of color. The banks, however, have all pushed back against those calls and other changes saying they’ve done enough to address racial equity.
According to
MarketWatch, the CtW Investment Group wrote in its proposal to Citi shareholders, the bank “has a conflicted history when it comes to addressing racial injustice within the community it serves.” The group also cited several examples including when Citi was fined $25 million in 2019 for violating the Fair Housing Act.
BlackRock plans audit of racial diversity and inclusion practices citywireselector.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citywireselector.com Daily Mail and Mail on Sunday newspapers.