Goldman Sachs, since launching an initiative more than three years ago to improve the diversity of corporate boards, has helped place over 100 such executives at companies—while another 300 businesses that adhere to the bank’s standards have gone public. But the road wasn’t without some speed bumps.
In July 2020, Goldman, a leading underwriter of IPOs, began telling businesses that it wouldn’t take them public in the U.S. or Europe if they didn’t have at least one diverse board member. In 2021, Goldman boosted the requirement to two members, including at least one woman. The investment bank considers gender and race, as well as sexual orientation, in its DEI metrics for board placements. It often found companies needed help with these mandates.
