Goldman Sachs Abandons IPO Diversity Pledge With US DEI Goals Under Fire
- Bank ends policy to refuse IPO work for non-diverse boards
- Wall Street has shunned diversity pledges since US election
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Goldman Sachs Group Inc. is abandoning a significant pledge it made to refuse initial public offering business with companies that had all White, male boards.
Wall Street’s leading investment bank had a policy that it would only take a company public in the US or Western Europe if it included two diverse board members, one of whom must be a woman. The rule had initially been put in place in 2020 with a requirement for at least one diverse board member.