Why is Wall Street losing black executives?
Despite pledges to increase diversity, some of the biggest U.S. banks are steadily losing senior black executives and managers. According to a report from Bloomberg, less than three percent of top positions are held by black employees at JPMorgan Chase & Co., Citigroup Inc. and Goldman Sachs Group Inc. The number of black executives has actually dropped at these companies over the last five years, while the rest of corporate America moves in the opposite direction. Bloomberg’s Max Abelson has more on this report and Wall Street’s struggle to diversify at the executive level.
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