Goldman Sachs’ One Million Black Women Initiative
David M. Solomon, the chairman and CEO of Goldman Sachs, took the stage along with the New York Region Head of Private Wealth Management, Nicole Pullen Ross, and the Global Co-Head of Consumer and Wealth Management, Stephanie Cohen, to discuss the firm’s One Million Black Women initiative, diversity and inclusion at Goldman Sachs and the firm’s approach toward working with diverse communities.
Highlights
- The pandemic and the murder of George Floyd have expanded and deepened the discussion of inclusion and diversity at Goldman Sachs.
- Turning talk into action, Goldman Sachs announced in March 2021 a new, long-term investment initiative called One Million Black Women, which will commit $10 billion in direct investment capital and $100 million in philanthropic capital over the next decade.
- Black women face a wealth gap of 90% compared to white men, and the firm’s research has shown they are well positioned to effect change in their communities and the economy at large.
- Goldman Sachs is partnering with organizations led by Black women and making investments in purpose-driven businesses in order to make a big impact, while also providing returns.
- One Million Black Women is also an investment in the firm’s ability to recruit and retain the workforce of the future, as well as a reflection of the firm’s and its employees’ values.