Corporate heads shouldn’t blame a limited pool of talent on their inability to promote and hire Black executives, said Kenneth Chenault, the former longtime chief executive of American Express.
Efforts to diversify boardrooms have taken on new urgency this year as racial unrest called attention to income inequality and pressure mounted on banks and other publicly traded companies to do something about it.
Financial disparities have only worsened during the coronavirus pandemic. President-elect Biden’s team could address this issue by establishing an office of economic equality under the Financial Stability Oversight Council.
The flow of assets and capital in manager selection, municipal bonds and business and mortgage capital reveals forms of systemic racism that often get overlooked.
The flow of assets and capital in manager selection, municipal bonds and business and mortgage capital reveals forms of systemic racism that often get overlooked.
The initiative is the latest offshoot of Project REACh, which was developed by the OCC over the summer to bring together bankers, community leaders and civil rights organizers in an attempt to expand access to credit.
People with scores below 500 are often in communities that suffer the most from economic hardship and violence. Banks and regulators can do more to qualify them for financing, ultimately creating healthier local economies.
Controversies over trainings that address white male privilege detract from the important role DEI initiatives play in helping the country move forward.
The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.
The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.
