Bloomberg Equality: White Men Cheer Kamala Harris’s Historic Nod

Kamala Harris cemented her place in history Tuesday as the first Black woman and first Asian-American on a major party ticket. Former Vice President Joe Biden’s selection of the California senator and former state attorney general as his vice-presidential candidate drew praise from both the political and business worlds, with Wall Street Democrats applauding the decision. Morgan Stanley Vice Chairman Tom Nides cheered that “a Black woman is considered the safe and conventional candidate.”

Notably, all of the six largest U.S. banks are run by White men. The finance industry's diversity efforts have failed to bring in women and minorities, leaving Wall Street's top ranks looking nothing like the nation they serve.The few Black female executives that have made it to the top caution that Harris's nomination is still an anomaly and progress for Black women remains slow. "You have an added burden to succeed," said Mary Winston, who was interim CEO of Bed Bath & Beyond Inc. last year. "If you don't, you know there won't be another one like you for many years to come." —Marin Wolf