Exelon Honors Top Banks, Insurance And Professional Services Firms For Diversity And Inclusion Efforts
Innovative program has increased minority representation on insurance firm leadership teams serving Exelon by 75 percent
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.
Now in its fourth year, the program is part of Exelon’s effort to promote diversity and inclusion among the firms that provide critical services to the company’s finance organization.
This year’s honorees are:
• Banks: BNP Paribas, Citibank, J.P. Morgan, Mitsubishi UFG and Northern Trust Company
• Insurance firms: AEGIS Insurance Services, Inc. and Beecher Carlson
• Professional services organizations: Deloitte & Touche LLP, Ernst & Young LLP, PricewaterhouseCoopers LLP and Towers Watson
“At Exelon, we know that diversity and inclusion broadens our perspective and creates high-performing employees and a strong business,” said Jonathan W. (Jack) Thayer, executive vice president and chief financial officer at Exelon. “We are constantly working to put these values into action and believe it is important to hold the companies that we work with to the same standards. The honor roll is one way we help them to do this.”
The program challenges participating partner firms to be inclusive of diverse individuals, including women and people of color, on the teams that service Exelon, and provide them the opportunity to make meaningful contributions at all levels of the project teams. The program provides firms with an incentive to improve their performance by demonstrating a shared commitment to diversity and inclusion.
“We are honored to once again be recognized for our commitment to diversity and inclusion by Exelon Corporation,” said Connie Lindsey, executive vice president and head of corporate social responsibility and global diversity and inclusion at Northern Trust. “At Northern Trust, we believe diversity is essential to the success of our business and provides the best service to our clients. Participating in Exelon’s honor roll program affirms our continuous focus and execution of best practices around diversity and inclusion at Northern Trust.”
The program continues to facilitate improvements at the companies with which Exelon works. Since the program’s inception in 2010, total representation by women at banks has increased by 10 percent and minority representation has increased by 15 percent. In their second year in the program, all participating insurance firms saw a 16 percent increase in representation by women within the leadership of the teams that cover Exelon-related work. From 2012 to 2013, minority representation on the same leadership teams increased by 75 percent.
This year, Exelon named two participating insurance firms, Aon Hewitt and Marsh, and two participating banks, Credit Agricole and Sumitomo, as “most improved” for achieving the most progress in their diversity and inclusion performance from 2012 to 2013.
Exelon has initiated several programs that help ensure partnership with financial institutions that share its commitment to diversity and inclusion. The company established a $123 million credit facility with 31 minority and community banks in its key territories in Illinois, Pennsylvania, Maryland and New Jersey in 2013 – the eleventh year Exelon has made such an arrangement. Exelon also engages diverse suppliers, spending more than $906 million with certified minority and women-owned businesses in 2013.
Exelon Corporation (NYSE: EXC) is the nation’s leading competitive energy provider, with 2013 revenues of approximately $24.9 billion. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is one of the largest competitive U.S. power generators, with approximately 35,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon’s utilities deliver electricity and natural gas to more than 7.8 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).
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