The percentage of black leaders at JPMorgan, Citigroup, and Goldman Sachs is falling even as the U.S. workforce gets more diverse.
By Max Abelson and Jordyn Holman
Wall Street’s top bosses have pledged for years to boost diversity in their ranks. But the number of black people at some of the biggest U.S. banks is going in reverse.
At JPMorgan Chase & Co., Citigroup Inc. and Goldman Sachs Group Inc., the percentage of senior black executives and managers fell over the past five years, according to U.S. workforce data compiled by Bloomberg. They make up no more than 2.6 percent of top positions at the three banks, lower than across corporate America, where the percentage is slightly better and ticking up.
Black diversity is also going backward for all U.S. employees at JPMorgan, Citigroup and Bank of America Corp., where the percentage of black workers slipped to 13.1 percent from 15.2 percent in 2012. All three lag the active U.S. workforce, which was 14.8 percent black in 2015, the most recent year for which nationwide data is available.
Black Bankers Fading From Parts of Wall Street
How racial makeup at the six biggest U.S. banks changed over five years (U.S. workforce)
READ MORE AT BLOOMBERG BUSINESSWEEK