by Simon Black
Recently the prominent investment bank Goldman Sachs announced that they would no longer work with companies whose Boards of Directors consisted exclusively of white males.
Specifically the bank will immediately require prospective clients to have at least one female or one non-white individual, on the Board of Directors. And by 2021, a company would need at least two ‘diverse’ directors, otherwise Goldman Sachs will refuse to underwrite that company’s Initial Public Offering.
(Obviously this doesn’t apply to Chinese or Middle Eastern companies; Goldman Sachs is happy to continue selling its soul to non-diverse companies in those parts of the world.)