CHICAGO - As part of its commitment to promote diversity and inclusion among its business partners, Exelon has named 11 banks, insurance companies and professional services organizations to its annual diversity and inclusion "honor roll" for demonstrating their dedication to these values in 2014.
The annual program, now in its fifth year, seeks to enhance the quality of service Exelon receives by encouraging contributions from minorities and women at its partner firms.
This year's honorees are:
• Banking: Mitsubishi UFG, BNP Paribas, Citibank, J.P. Morgan and Northern Trust Company
• Insurance: Aon Hewitt, Beecher Carlson and Marsh
• Professional Services: Ernst & Young, PricewaterhouseCoopers and Towers Watson
"At Exelon, we value diverse backgrounds and perspectives because we know they lead to greater innovation, better problem solving and stronger business results," said Jonathan W. (Jack) Thayer, senior executive vice president and chief financial officer at Exelon. "Through the honor roll program, we are able to share our commitment to diversity and inclusion, while encouraging the same accountability in our suppliers."
The program challenges participating financial services partner firms to expand the diversity of their teams by evaluating the level of contributions made by women and minorities on the teams that serve Exelon, while providing them with incentives to improve their performance by demonstrating a shared commitment to diversity and inclusion. The program also evaluates the companies' own diversity and inclusion initiatives and their improvement year-to-year.
"We are delighted to be named to Exelon's diversity and inclusion honor role for the fourth straight year," said Casey Herman, US power and utilities leader at PricewaterhouseCoopers. "At PwC, we embrace diversity in all its dimensions and foster an inclusive culture by acknowledging the unique experiences and perspectives all of our people bring to our teams and clients. We applaud Exelon and its honor roll program as a catalyst to encouraging us and other enterprises to truly embrace these important values."
"We are honored to be recognized by Exelon for the third year for our commitment to diversity and inclusion," said Jeffrey Lattmann, executive managing director at Beecher Carlson. "These attributes play an important role in the work we do to support our business and clients at Beecher Carlson. Exelon's honor roll program has assisted us in reaffirming our commitment to diversity while encouraging continuous improvement."
In a sign that the program is helping companies improve their diversity, the number of firms named to Exelon's honor roll has increased from five to 11 in just five years. This year, Exelon named one participating bank, CIBC, "most improved" for achieving the most progress in its diversity and inclusion performance from 2013 to 2014.
Exelon has several initiatives that help ensure it works with financial institutions that share its commitment to diversity and inclusion. In 2014, the company arranged $123 million in credit lines with 31 community- and minority-owned banks in Illinois, Pennsylvania, Maryland and New Jersey. Exelon is also dedicated to working with diverse suppliers as part of its supply chain strategy, spending over $1 billion with minority and women-owned suppliers in 2014, a 17 percent increase over the previous year.