On February 27, Goldman Sachs omitted a section on "diversity and inclusion" from its latest annual filing, aligning with a trend among Wall Street firms scaling back diversity efforts during Donald Trump's presidency.
"We have made adjustments in accordance with U.S. law changes," stated CEO David Solomon.
The bank's previous five-year "aspirational hiring and representation goals" are due to conclude this year.
Earlier this month, Goldman ended a policy requiring two diverse board members for companies to receive its IPO advisory services.
Corporate America has shifted its stance on diversity, equity, and inclusion following Trump's directive to eliminate DEI policies. Nonetheless, Solomon emphasized the bank's commitment to attracting and retaining diverse talent.
Advocates of DEI policies argue they address entrenched bias, inequity, and discrimination. In contrast, Trump and his supporters contend such initiatives discriminate against groups like white individuals and men, undermining merit in hiring and promotion decisions.
Trump recently urged Apple to increase its dividend after shareholders voted against it.
Similarly, Citigroup mandated diverse candidate interviews, while Bank of America bolstered its DEI efforts.