BOSTON/LONDON: Goldman Sachs Group's asset-management arm will pressure U.S. companies to appoint more women and members of under-represented groups to their boards, an executive said, but will stop short of setting specific numerical targets for racial and ethnic diversity as some activists urge.
For that second spot, Goldman's definition of diversity includes gender identity, sexual orientation and under-represented race and ethnic groups, and a board with two white women would meet the standard.Winner said the change will lead more companies to meet investor expectations."Escalation draws attention," she said on Wednesday.The asset-management arm can exert leverage at companies where it is an important shareholder.
Some activists want asset managers to set targets."You can find the data, the data is out there," said Roel Campos, a former member of the U.S. Securities & Exchange Commission who is now chair of the Latino Corporate Directors Association.