Goldman Sachs to Drop DEI as Factor for Board Picks

The financial giant plans to scrap diversity metrics in evaluating potential board members, responding to pressure from conservative activists.

Published on Feb. 18, 2026

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Goldman Sachs is reportedly planning to eliminate race, gender identity, sexual orientation and other diversity metrics when evaluating potential board members. The proposed policy change, if approved at a shareholder meeting in April, would mark the latest retreat from diversity, equity and inclusion initiatives that have come under fire since President Trump's return to office.

Why it matters

The potential shift at Goldman comes in response to pressure from conservative activists who have criticized left-wing DEI policies that swept across corporate America after the killing of George Floyd. The move aligns with broader industry trends as other major firms have dialed back their diversity commitments amid regulatory scrutiny from the Trump administration.

The details

The conservative nonprofit National Legal and Policy Center, which has built a small stake in Goldman, has been a vocal critic of DEI policies. The bank's board currently finds qualified candidates based on factors including diversity in a broad sense, but the new policy would scrap those considerations. Goldman had previously set targets to achieve gender parity worldwide and ensure its US payroll is 11% Black American and 14% Hispanic.

  • In April 2026, Goldman Sachs shareholders will vote on the proposed policy change.
  • Last year, Goldman CEO David Solomon decided to shift the bank's stance on DEI at a partners' meeting in Miami.

The players

Goldman Sachs

A major American investment bank and financial services company.

National Legal and Policy Center

A conservative nonprofit organization that has been critical of left-wing DEI policies in corporate America.

David Solomon

The CEO of Goldman Sachs who decided to shift the bank's stance on DEI.

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What they’re saying

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