Goldman Sachs axes diversity rule that has ‘served its purpose’

The international boss of Goldman Sax has said that the bank has abolished the principle of internal diversity that prevented him from advising all men, all white boards on the company’s flutation because it was no longer needed.

The Investment Bank promised that it would only help the business to sell its shares on the stock exchange if it had two diverse members on the board, one of whom should be a woman.

But Richard Gonoda told the BBC: “This policy was kept to try to change the behavior and I think it has happened.”

In a wide interview, he also said that the UK government now needs to start and start infrastructure projects and warned that uncertainty on US policy firms are decreasing “animal spirit” –

Goldman Sex introduced his diversity policy on boards in 2020, initially mandatory that companies who want to swim will have to be a diverse member, before it is increased to two people. –

Mr Gonoda said: “I think the important thing is that you have the diversity of ideas on this board and if you look at these companies, they have accepted all the diversity, it has moved forward.

“It was a decade or a policy, I think he has fulfilled his goal.”

Last December, the US Federal Appeal Court had ruled that the stock market index, Nice Deck, could not enforce rules in which companies need or cannot be explained on their boards on their boards or cannot be explained. Why not

A spokesman for the Goldman Sex said: “As a result of the legal progress regarding the diversity of the board, we abolished our official board diversity policy.”

In his first action after taking the oath, US President Donald Trump signed an executive order to eliminate the radical and wasteful government DEI. [diversity, equity, and inclusion ] Program “.

Subsequently, several companies have returned to various services programs, including Google and Meta, which owns Instagram and Facebook.

When asked if Trump is withdrawing from the White House firms from diversity, Mr Gonoda said: “I can only talk for myself, I don’t think it is.

“Our ambitions are to keep things forward and clearly go beyond us.”

However, he acknowledged that the uncertainty caused by Trump’s policy on trade prices is weighing on companies’ animals “and their investment hunger.

“I think right now, the mood is on the margin [is] Mr Gonoda said, “A little temperament, because people are absolutely uncertain about what the policy results will be and that the same effects will be.” “

Trump initially said he would impose 25 % taxes on Canada, Mexico and China. However, he then stopped them for 30 days against Canada and Mexico.

Since then, the president has later announced that he will impose 25 % of the taxes on all steel and aluminum entering the United States, Creating anger reactions to the choice of Canada and European Union.

Looking at the UK, Mr Gonode called on the government to follow the infrastructure projects later.

Chancellor Raheel Ravis Recently announced its backing for the third runway in Heathrow As well as expanding Luton and Gatok airports, and building the “Nim Corridor” between Oxford and Cambridge.

However, it is not expected that these projects will be completed for many years.

The government has made the economy an important policy but the growth in the UK has slowed down, According to official figures.

Mr Gnowe said: “Long distance projects are very interesting. We need to keep them in place but it will take a long time.”

He added: “Let’s find some infrastructure construction we need to do, whether in the energy sector, whether in transport, improve the road network, some on energy transfer.

“All these projects are sitting at the Treasury table. Why don’t we put them in tender, why don’t we keep the private sector to bid on the terms that will be attractive to the private sector, and you will see the competition.”

In a report on promoting small businesses in the UK released on Wednesday, Goldman Sax said: “If we know two things from the first six months of a new administration in the UK, it is an important national mission. And this is probably the biggest challenge that governments have faced. “

Mr. Gnoda said that Labor then sent a strong message on the competitive front ” Recently ousted the Chair of the Competition and the Markets Authority.

He added that the government that pulls such a lever can incite development to make the UK “global competitiveness”.

He also suggested that the UK business must be strengthened to compete globally.

“How many of these players do we need?” “How many tils do we need? How many banks do we need? I think if we are going to compete globally, we should be able to run the market.”