At Goldman Sachs, we believe in the power of Black voices and in committing capital towards creating change.

Where those come together is where we can make progress towards racial equity.

That’s why we are investing in the power of Black communities.

Supporting the power of Black businesses.

Recognizing the power of an inclusive workforce.

As a firm focused on sustainable and inclusive growth, we are channeling the power of capital to drive economic prosperity for more people. 

We have long been committed to promoting inclusion, diversity and equity within our own firm, throughout our industry, and in the communities in which we live and work. Last summer, in response to the recent senseless acts of racism and violence against Black people, we renewed this dedication, and since then we have continued our focus. We believe the effort needed to truly bridge gaps in inequality is ongoing – we know there is more to be done, and we continue to aim higher. 

As our Chairman and CEO, David M. Solomon told a US House subcommittee in June 2020, “We must stand up and support organizations dedicated to the fight for a more just and equitable society."

 

Channeling the Power of Capital

Investing in the Power of HBCUs
At Goldman Sachs, we believe in the power of Historically Black Colleges and Universities (HBCUs) and their students. That’s why we started the Goldman Sachs Market Madness: HBCU Possibilities Program, a focused effort to provide HBCU student participants with access to hands-on comprehensive training, networking opportunities, and sustained coaching relationships with Goldman Sachs colleagues. 

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For over a decade, we have also been investing capital and resources in minority owned businesses through our 10,000 Small Businesses program and Urban Investment Group. More recently, we have leveraged our expertise and deep relationships with Community Development Financial Institutions and other mission-driven lenders to swiftly deploy targeted capital towards communities of color, including an additional $250 million in emergency relief to fund the Small Business Administration’s Paycheck Protection Program via loans through these partners, taking our total support since the start of COVID-19 to $1 billion. 

Increasing Our Small Business Commitment to $1 Billion
At the end of 2020, we announced an additional $250 million of funding for the 10,000 Small Businesses program, which will ensure the program can reach another 10,000 entrepreneurs with the training and support they need to realize opportunities for growth. This announcement brought Goldman Sachs’ total commitment to small businesses to over $1 billion in 2020, having previously committed $775 million in capital and grants to Community Development Financial Institutions and other mission-driven lenders.

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Promoting Inclusive Lending During the Pandemic
Read Promoting Inclusive Lending During the Pandemic: Community Development Financial Institutions and Minority Depository Institutions, the submission from Goldman Sachs Chairman and Chief Executive Officer David Solomon to the U.S. House of Representatives Committee on Financial Services Subcommittee on Consumer Protection and Financial Institutions Hearing.

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Urban Investment Group (UIG)
UIG is our domestic multi-asset class investing and lending business that deploys over $1 billion annually to close the opportunity gap for underserved places and people through real estate projects, social enterprises, and lending facilities for small businesses. Over 80% of the team’s investing is in minority communities. 

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Driving Inclusive Growth Through Sustainable Finance
As part of our $750 billion commitment to sustainable finance, we’re supporting underserved populations by leveraging our capabilities to improve access and affordability. Inclusive growth supports communities by drawing on innovative finance and partnerships to mitigate unequal access and affordability among underserved populations.

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Supporting the Power of Communities

In 2020, we created the Goldman Sachs Fund for Racial Equity to support the vital work of leading organizations addressing racial injustice, structural inequity and economic disparity.

The $10 million Fund for Racial Equity builds upon more than $200 million Goldman Sachs has granted over the last decade to organizations serving communities of color. Most recently, as part of the Goldman Sachs COVID-19 Relief Fund, the firm deployed $17 million to organizations supporting relief efforts in communities of color.

Goldman Sachs Fund for Racial Equity
We’ve created the $10 million Goldman Sachs Fund for Racial Equity to support the vital work of leading organizations addressing racial injustice, structural inequity and economic disparity. 

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Social Impact, Racial Equity and the Current Environment
Asahi Pompey, global head of Corporate Engagement and president of the Goldman Sachs Foundation, sat down for a conversation with Dr. Mitchell Katz, president & CEO of NYC Health + Hospitals, and Kimberly Bryant, founder & CEO of Black Girls Code, to discuss nonprofit leadership and resilience in times of crisis, the pandemic’s impact on communities of color, and actionable steps toward racial equity and equality.

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Analyzing the Obstacles of Black Entrepreneurship
Black business owners face significantly more challenges in starting, maintaining and growing their businesses than their white counterparts, according to new research from Goldman Sachs’ 10,000 Small Businesses program, which analyzes more than 10 years of data from more than 9,700 program graduates. 

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Investing in the Power of Diverse Teams

Launch With GS
Launch With GS is Goldman Sachs’ $500 million investment strategy grounded in the belief that teams with diverse leadership drive stronger returns. As we enter our third year deploying capital, we remain committed to facilitating connections and increasing access to capital for women, Black, Latinx and other diverse entrepreneurs. In early May 2020, we welcomed 14 companies into the Launch With GS Black and Latinx Entrepreneur Cohort, an eight-week virtual experience providing high-touch access and resources.

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A More Sustainable and Diverse Supply Chain
A key priority for our firm is fostering opportunities for businesses which are women- and minority-owned with the aim of achieving a supply chain that reflects the diversity of our people and our clients. Our Vendor Diversity Program gives us a platform to engage with small and diverse enterprises around the world.

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Catalyzing the Power of Representation and Inclusion

Driving Diversity in Recruiting and Developing Talent
The strength of our culture, the execution of our strategy and our relevance to our clients depend on a truly diverse workforce. We have set clear, quantifiable diversity goals around our entry-level hiring, and are equally committed to career development to ensure diverse representation at all levels of the firm.

Read about our aspirational goals

Learn about our 2020 Campus Analyst Class and Its Diverse Representation

Learn about our 2020 Partner Class and Its Diverse Representation

Learn about our 2019 Campus Analyst and Managing Director Classes 

Recognition of Our Commitment to Diversity and Inclusion
Our firm and our people have been honored for diversity and inclusion over the years by leading organizations and media, respectively. Human Rights Campaign, Asia Society and Disability:IN are some of the organizations that have recognized the firm as an employer of choice. EBONY and Fast Company, along with others, have honored our people for leadership and dedication to addressing inequality.

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Encouraging an Open Dialogue on Race
At Goldman Sachs, we are on a journey to becoming a more inclusive firm and a leader in fighting for racial equity. How can you drive change in your organization? Engaging in dialogue and understanding the lived experiences of Black colleagues is an important step. Goldman Sachs Chief Diversity Officer Erika Irish Brown is joined by others in Human Capital Management who share tools and best practices for how to engage in conversations on race and how to be an active ally. Watch Video

Confronting Inequality and Injustice
Margaret Anadu, head of Goldman Sachs’ Urban Investment Group, discusses inequality, racial injustice and other issues that are impacting underserved communities around the country. Margaret appeared on The Daily Check-In. Watch Video

Being Black in America
Gizelle George-Joseph, chief operating officer of Global Investment Research, reflects on racism and discrimination in the US from her perspective as a Black woman. Read More

To Everyone Who’s Asked, ‘How’s It Going?’
Fred Baba, a managing director in Global Markets, reflects on a raw and honest email he wrote about his experience with racism and discrimination as a Black man in America, as well as how his co-workers can best support the Black community moving forward. Fred spoke on the firm's Exchanges at Goldman Sachs podcast.  Listen Now

In Conversation with Our Newest Black Partners
Our Firmwide Black Network hosted a panel discussion featuring its newly named Black partners. Each partner discussed their career growth, personal role models, as well as ways to deliver commercial impact for the firm. Watch Video

This Is Our Moment to Get Involved
Goldman Sachs’ Chief Diversity Officer, Erika Irish Brown, shares guidance on contributing to the fight towards social justice and racial equity. Read More

Message to All Goldman Sachs People
David Solomon, Chairman and CEO of Goldman Sachs, shares his message on inclusion to all Goldman Sachs people. Read More

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