Goldman Sachs Group Inc. has changed its stance on underwriting initial public offerings (IPOs) for companies with all-white male boards. In 2020, CEO David Solomon announced that the leading investment bank would only take a company public in the United States or Western Europe if the organization had at least two diverse board members,

Goldman Sachs has ended its policy requiring IPO clients to have diverse boards, citing a legal ruling that ended a similar initiative at the Nasdaq.

Goldman Sachs CEO David Solomon is scrapping a key DEI policy that banned the bank from doing IPOs for companies with white, all-male boards. It marks a major U-turn for Goldman amid a White House-led crackdown on what the Trump administration believes to be discriminatory hiring policies in the private sector.

Goldman Sachs has ended a ban on underwriting companies with all-White, all-male boards, becoming the latest corporate giant to scale back a DEI initiative.