Goldman Sachs’s women’s problems continue to deteriorate

(Opinions of Bloomberg) -David Solomon, chief executive of Goldman Sachs Group Inc., hopes to win the victory circle.

On Friday, the company issued a letter to the shareholders, and he used to promote his five -year term of office: the book value per share rose by about 50 %, the stock price rose by about 130 %, and its peer group 60 %, quarterly More than three times the dividend. He proudly pointed out that the company has managed more than $ 250 billion in alternative assets, and exceeds its target of $ 225 billion a year.

However, the Wall Street Journal provided some serious counterattack a few days ago and investigated the stagnation of women of the company. This article is abominable. It pointed out that among the women’s women at the end of 2018, about two -thirds of women have left the company or no longer have champion titles, and no women are currently regarded as real candidates, or they are regarded as they are The real candidate started from Solomon. (A spokesman for Goldman Sachs told WSJ, “The company’s partner leaves within historical specifications.”)

Then, on Monday, there was news that Stephanie Cohen was one of the two women who had revenue in the company’s 25 -member management committee. He was withdrawing from the Cloudflare Inc. Another BETH HAMMACK has said she is going to leave.

As he said in his letter on Friday, when repairing the company’s “core” business, Solomon adopted “fast, decisive action to focus on the company’s strategy”. However, the company did not show the same urgency in solving Goldman Sachs. When Solomon became CEO, he claimed that it was a top priority to promote women to senior leadership. But now, five years later, he told WSJ: “Promoting women to our highest ranking is the field we have not yet achieved”, and the company’s “long -term success” depends on this.

This raises an obvious question: If Solomon believes that the diversification of the company’s highest ranking is critical to success, why don’t he figure out what to do? He has the resources and willingness of other parts of the repair business. However, when transferring women to senior work, the female partner told WSJ, “They can’t see the results.”

Ariel Investments Co-CEO MELLODY HOBSON is one of the leading voices of the importance of US companies to DEI. She likes to quote her husband George Lucas, or the lines he wrote for Yoda Hobson is also the chairman of the board of directors of Starbucks Corp.

“Everything we do can be measured. I like to say a line I learned from the CEO: there is no opinion in mathematics. But in this field, we want to try it. And you will not get your reputation because you try to deliver the product to the customer on time.

When reading WSJ works, it is obvious that Goldman Sachs can implement some solutions: stop women as big and important positions. This is what Hammack did not get CFO work. Stopping them in the Glass-CLIFF role, what happened when the company tapped her defective platform solution department. And stop promoting men with a tendency to destroy and reduce the work of female colleagues-for this, if you really want your blood to boil, please read the full text.

At present, the climate around DEI has rarely covered Goldman Sachs, so that more women enter high -level management. Bloomberg News introduced the diversity of Wall Street in detail in conservatives and possible legal threats, but Goldman Sachs was not immune. According to reports, it has opened a “possibility summit” for black college students. Until white students, lawyers suggested that senior managers cancel race and gender in their university recruitment plan. They also warned not to hold activities for targeted groups (such as women and colored people).

If Solomon actually wants women to enter Goldman Sachs, then he can see it as a real business problem, not just optical issues that need to be managed. As Hobosse (and Yuda) said, it was time to stop trying and starting. More information about Beth Kowitt of Bloomberg’s view:

This column does not necessarily reflect the opinions of the editorial committee or Bloomberg and its owners.

Beth Kowitt is a columnist of Bloomberg, covering American companies. She used to be a senior writer and editor of Fortune Magazine.

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