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Goldman Sachs highlights diversity in new managing director class

Goldman Sachs highlights diversity in new managing director class

FILE PHOTO: The Goldman Sachs company logo is on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid

NEW YORK : Goldman Sachs Group Inc on Wednesday promoted 643 people to managing director, the bank's second-highest rank behind partner, including a higher proportion of women and Black, Asian and Latino workers.

Goldman has set some of the most aggressive and specific goals among the big banks, requiring that more Black, Latino and female professionals be interviewed and hired for jobs there. The bank says it interviews at least two diverse candidates for any senior job opening.

Thirty percent of those promoted were women, the bank said in an email sent to all stuff and posted on its website. That compared with 29per cent in 2019.

Twenty-eight percent of those promoted were Asian, up from 26per cent in 2019. Five percent were Black, compared with 4per cent in 2019 and 5per cent were Hispanic, up from 2per cent in 2019.

Three percent were from the LGBTQ+ community, compared with 2per cent in 2019.

The appointments also reflected Goldman's increasing presence in locations outside of major financial centers, particularly Bengaluru, India; Salt Lake City; and Dallas.

Seventy-two of the promotions were in those "strategic locations," twice the number in 2019.

(Reporting by Matt Scuffham; editing by Jonathan Oatis)

Source: Reuters

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