The Crossroads of Special Operations

Saturday, May 8, 2021

The CEO of Goldman Sachs says the bank won’t take companies public unless there is at least one ‘diverse’ board member | Forbes

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It was announced towards the end of January by Goldman Sachs CEO David Solomon that the investment bank will only take companies public if they have at least one “diverse” board member, with a focus on women. Solomon recognizes the benefit of having diverse perspectives on the Goldman Sachs board, commenting that, “I look back at IPOs over the last four years and the performance of IPOs where there’s been a woman on the board in the U.S. is significantly better than the performance of IPOs where there hasn’t been a woman on the board.” Diversity being an important issue for corporate governance, Solomon added that it is a good opportunity to use its network to help clients place women on boards. State Street Global Advisors is another bank that is focusing on board diversity. In March 2017, they launched their “Fearless Girl” campaign in an effort to encourage more public companies to appoint women to board seats.

Source: https://www.forbes.com/sites/elanagross/2020/01/23/the-ceo-of-goldman-sachs

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