As several multinational companies increase efforts to diversify their topmost positions and ranks, Goldman Sachs has announced the hire of Erika Irish Brown as its new chief diversity officer.
Brown is tasked with helping to lead the Wall Street Bank’s efforts to recruit and retain professionals from a diverse background. Before heading to Goldman Sachs, Brown served as the first chief diversity and inclusion officer at Bloomberg. Additionally, she led the diversity hiring efforts of both Lehman Brothers and Bank of America.
Dane Holmes, Head of Human Capital Management at Goldman Sachs, said of Brown’s hiring, “Erika has deep expertise across the diversity and inclusion space and has a strong understanding of our business, having spent the majority of her career in financial services.”
Brown begins her new role in full this month, joining the bank as its new CEO David Solomon, has made a strong push for increased diversity among the bank’s most senior ranks. She replaces Anilu Vazquez-Ubarri, who joined TPG Capital in June as the company’s chief human resources officer.
In a memo to staff members on July 23, 2018, Goldman Sachs announces that it had nearly doubled the number of women holding its most senior management positions. The additions bring the total number to 33 members including 7 women. Goldman Sachs is one of the few companies who has been public about its desire to close the gender gap and achieve gender parity within its ranks by promoting women to senior positions.
The powerful bank also created a diversity committee last week. The committee is chaired by the bank’s head of conflicts, Gwen Libstag, and Liz Martin, its global head of electronic trading.
Companies in industries specifically where female representation is lacking can learn from the example of Goldman Sachs as it puts feet to its words to correct the leadership imbalance that exists within most companies.