Goldman Sachs Plans to Remove DEI From Board Candidate Evaluations

Goldman Sachs is preparing to eliminate race, gender identity, sexual orientation, and other diversity-related factors from the criteria its board uses to assess prospective candidates, The Wall Street Journal reported on Monday, citing people familiar with the matter. 

Since taking office last year, U.S. President Donald Trump has launched a broad campaign against diversity, equity, and inclusion (DEI) practices in both the government and the private sector, alleging that these programs are discriminatory.

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Several corporate giants including Morgan Stanley and Citi have softened their diversity commitments amid pressure from the Trump administration. 

Goldman’s decision follows a request from the conservative activist nonprofit National Legal and Policy Center, a small shareholder in the bank, the WSJ report said, adding that the group submitted a proposal last September urging the firm to remove the DEI criteria.

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Reuters could not immediately verify the WSJ report.

Goldman Sachs declined a Reuters’ request for comment. 

Last year, the Wall Street bank removed an entire “diversity and inclusion” section from its annual filing, after ending its four-year-old diversity policy that required companies to have at least two diverse board members before being advised on initial public offerings (IPOs).

The board’s governance committee currently identifies qualified candidates based on four primary criteria, including a broad definition of diversity that covers viewpoints, background, professional and military experience, as well as other demographic considerations, according to the WSJ report on Monday.

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The committee now plans to remove references to those additional demographic factors, including race, gender identity, ethnicity and sexual orientation, the report said. 

(Reporting by Devika Nair in Bengaluru; Editing by Sherry Jacob-Phillips)

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