Goldman Sachs Removes DEI Board Criteria
Analysis based on 9 articles · First reported Feb 17, 2026 · Last updated Feb 17, 2026
The market impact is neutral to slightly positive for Goldman Sachs as it aligns with a broader trend of reducing DEI commitments, potentially easing regulatory pressure. However, it could also face backlash from other stakeholders. The broader financial market may see a continued shift away from explicit DEI mandates.
Goldman Sachs is preparing to remove race, gender identity, sexual orientation, and other diversity-related factors from the criteria its board uses to assess prospective candidates. This decision follows a request from the conservative activist nonprofit National Legal and Policy Center, a small shareholder in the bank, which submitted a proposal urging the firm to remove DEI criteria. Goldman Sachs has informed the National Legal and Policy Center of its plans and an agreement has been signed, leading to the withdrawal of the proposal. This move aligns with a broader campaign against diversity, equity, and inclusion (DEI) practices initiated by former United States President Donald Trump, who alleged these programs are discriminatory. Other major financial institutions like Morgan Stanley, Citigroup, Bank of America, and Wells Fargo have also softened or rolled back their diversity commitments. Goldman Sachs had previously removed a 'diversity and inclusion' section from its annual filing and ended a policy requiring companies to have at least two diverse board members for IPO advisement.
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