Diversity on Wall Street

by birtanpublished on October 3, 2020

wall street has long faced criticism over its track record and diversity especially in its top ranks only four of the 200 largest public u.s financial services companies have female ceos although we have made incredible progress if i think in in my career from when i started to now um where i am there's been an amazing progress but it's just not fast enough earlier this month jane fraser was named as citigroup's new ceo making her the first female leader of a major u.s bank about 40 percent of cities employees are

Female but most of them aren't at or even near the top i think there's a much greater awareness that it's not just the right thing to do to have diversity in senior ranks throughout an organization but it leads to better outcomes it's not just women who are underrepresented at goldman sachs less than 3 percent of executives senior officials and managers are african-american at city black executives and senior managers account for only two percent of the total racial tensions across the

Country this year have turned up the pressure on firms to make changes blackrock the world's largest asset manager has promised 30 more black employees at the firm by 2024. slowly but surely again these sort of institutional kind of framework biases that exist are kind of slowly but surely getting broken down a little bit wells fargo ceo charles scharf came under fire this week over comments that the bank has had trouble meeting its diversity goals

Because there isn't enough minority talent something for which he subsequently apologized there's a lot of terrific talent out there we've been at this for a while last year 49 of the folks we hired were women black or latinx

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