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April 20, 2021 at 02:59 PM
What You Need to Know
- Of the bank's 1,548 U.S. executives, senior officials and managers, 49 — or 3.2% — are Black. Overall, Blacks account for 6.8% of its U.S. workforce.
- At the next level, there are 3,411 first-level officials and middle managers of which 105 — or 3.1% — are Black.
- “There’s still a long road ahead, but I will continue to make this effort a personal priority,” says CEO David Solomon.
Inside Goldman Sachs Group Inc., 1,548 U.S. executives, senior officials and managers run the bank. Of that group, 24 are Black men and 25 are Black women.
That’s one of the new pieces of data released by the bank for the first time Tuesday as part of its sustainability report.
“There’s still a long road ahead,” Chief Executive Officer David Solomon wrote in the introduction, “but I will continue to make this effort a personal priority.”
The report provides the clearest look yet inside Goldman’s U.S. workforce. Below those top executives, in a group of 3,411 first-level officials and middle managers, 57 are Black men and 48 are Black women.
Overall, the data show a slight improvement at a firm where Black people make up 6.8% of the U.S. workforce, up from 6.6% in last year’s report. About 13.4% of the U.S. population is Black, according to the Census Bureau.
“Everybody recognizes the need to be more transparent,” Erika Irish Brown, the bank’s former head of diversity, said during Bloomberg’s New Voices event in December. “Our people want that transparency.” She left the bank last month for Citigroup Inc., and was succeeded by Megan Hogan.
Data for Bank Rivals
Goldman has more Black executives in the U.S. than Morgan Stanley, where 37 out of 1,705 leaders are Black. Inside Bank of America Corp., there are 201 Black senior officials out of 4,191 total in the country.
