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.
Click the audio player above for the full story.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.