Goldman Sachs has notably diminished its emphasis on diversity in its 2024 annual report, citing changes in political and legal contexts under the Trump administration. The firm mentioned diversity only three times, a sharp decline from previous years, and omitted sections on their diversity and inclusion strategies. CEO David Solomon acknowledged these adjustments in light of legal changes but reaffirmed the firm's commitment to attracting diverse talent. Similarly, BlackRock has also scaled back its diversity initiatives in its recent report, reflecting broader trends in corporate America amid political scrutiny.
The bank also said "aspirational hiring goals" it set five years ago expire this year without saying whether it planned to set new goals.
Goldman's 2024 annual report referenced diversity relating to human capital just three times, compared to 14 in 2023 and 16 in 2022.
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