Focusing on the diverse financial needs of today’s workforce

A message from Lorna Sabbia, head of Retirement and Personal Wealth Solutions, Bank of America

Lorna Sabbia
Lorna Sabbia

Not everyone comes at financial wellness in the same way. Over the last several years, we have studied how gender, race, sexual identity and cultural heritage can shape financial experiences and priorities, and we have used these insights to help improve how we serve the financial needs of a diverse workforce.

The events of 2020 have shown that our diversity and inclusion work is more relevant and important than ever—and that there is more to do. That’s why we’re intensifying our efforts and committing new resources to support them. In fact, we have created a new position on my team to provide the dedicated focus this work deserves, and I am pleased that Kai Walker has stepped into that new role.

As head of Inclusion Transformation, Kai brings experience, leadership and compassion to help advance our mission to help each and every individual—from all walks of life—live better financially.”

His goal is to dig deeper and reach further to better understand financial challenges across all life stages, ethnicities, cultures, genders and experiences, and to ensure those perspectives are integrated into the services, products and communications we deliver.

Specifically, Kai will collaborate with our clients and other stakeholders and influencers to help gather and analyze data on key employee segments, and will share his findings to help you create programs that are more meaningful and valuable to your employees. He will continue to be a visible and vocal representative of diversity and inclusion both within and outside our organization, helping ensure that our own associates continue to reflect the diversity of the communities in which we live and work, and possess the appropriate skills required to serve their needs. But perhaps the most exciting aspect of Kai’s work is that it will help us get to the heart of financial equality and opportunity, and ultimately lead to actions that can have a direct impact on the financial futures of our coworkers, neighbors, friends and families.

Kai is a natural fit for this new position, with a firsthand understanding of employers’ and employees’ needs and concerns gained through decades of service in the retirement industry in highly people-focused and interactive roles. Kai also brings related perspective from his involvement in a number of Bank of America affinity groups including the Black Executive Leadership Council, Diverse Leadership Program, and Inter-Generational Employee Network, as well as local and national organizations including the Florida Council on Aging, the Alzheimer’s Association National Teams Committee, the Society of Human Resource Managers, and the American Economic Association.

I’m looking forward to working with Kai to champion diversity and inclusion—a core value and strength of our organization, one that is ingrained in our culture, and one that I care deeply about and am personally involved in supporting. In the coming months, we will publish an interview with Kai so you can hear directly from him and learn more about his plans to partner with you to gain deeper insights into the financial behaviors and needs of key employee demographics.

We hope this work and these insights spark conversations that will lead to greater understanding, a closer, stronger workforce and inclusive programs that benefit all.

Lorna Sabbia signature

Lorna Sabbia
Head of Retirement and Personal Wealth Solutions, Bank of America