Select Page

Investment Firm’s New Diversity Policy Seeks to Hire Fewer White Men

Investment Firm’s New Diversity Policy Seeks to Hire Fewer White Men

As reported this week by Fox News, one of the world’s largest investment firms will need to obtain permission before adding any more white men to the company. 

“All of our leaders have to demonstrate at their annual appraisals what they have done to improve female representation and the number of colleagues from ethnic-minority backgrounds,” explains Jess McNicholas, head of inclusion, diversity, and corporate citizenship for State Street Global Advisors. “This is now front and central for State Street – it’s on every senior executive’s scorecard.”

As outlined in the company’s new diversity hiring initiative, recruiters must prove that all candidates for middle management positions have been interviewed by a diverse panel of employees that includes at least one woman and one person of minority ethnicity.

‘We work to ensure a level playing field for candidates of all backgrounds and ensure that our hiring decisions are well informed and not biased in order to select the best candidate for every job,’ said a spokesperson. ‘State Street is committed to inclusion, diversity, and equity and we believe it to be a critical component of our business success; as such, we expect our hiring managers to have the best possible slate of candidates for their open positions.’ 

The ultimate goal of the hiring initiative is to show support for Black- and Latinx-owned businesses by tripling the number of female and non-white employees in senior positions by 2023.

If executives fail to meet this goal, they will face lowered bonuses. 

State Street, founded in 1792, has roughly 39,400 employees working in 30 offices worldwide. The firm is best known for commissioning the “Fearless Girl” statue for International Women’s Day in 2017. The statue was placed directly in front of Wall Street’s “Charging Bull,” but was later moved to the New York Stock Exchange building.

Author’s Note: This is what we call “positive discrimination” – prioritizing minority and female applicants over white men simply to increase diversity. This is affirmative action at its worst. 

Sources:

One of the world’s biggest investment firms State Street are trying to triple the number of BAME staff in senior roles and cut down on hiring of white men as part of new diversity drive 

One of world’s largest investment firms will need permission to hire White men 

About The Author

7 Comments

  1. Arthur hess

    Production will fail. It’s white people who holds the country together

    Reply
  2. Rat Wrangler

    I have yet to see an official move to ensure that all professional basketball teams are made up of 60% White people. It seems that sports is the one field where diversity is not desired. Instead, they want the best players. Wanting the best was a common goal in American businesses at one time, but many have turned away from that goal.

    Reply
  3. Ben

    Only in conservative minds would the quote , “ We work to ensure a level playing field for candidates of all backgrounds and ensure that our hiring decisions are well informed and not biased in order to select the best candidate for every job,’ said a spokesperson, mean that preference was given to historically underrepresented groups. He clearly says, they want to ensure hiring decisions are well informed in order to hire the BEST candidate.

    Alice is so racist and misogynistic that eliminating bias to ensure the best candidate is hired is a bad thing.

    Reply
    • Dan Tyree

      No Ben. Alice isn’t racist. But racism has been weaponized by the commiecrats to discredit people and try to shut down debate. You people are losers.

      Reply
  4. Frank stetson

    Only a tighty whitey from the eighty would equate diversity with a lack of talent. As if diverse participants lower the talent bar except in sports. What’s next, the extra calf muscle they gave?

    Guess what, its America, you can have diversity and top talent too!

    Reply
    • Joseph S. Bruder

      So, Alice, how is it that you got this writing gig? It certainly wasn’t based on your own talent. You write fluff pieces. Your text is mostly lifted directly from FOX or Newsmax articles, no original writing or analysis. You add a totally unsupported opinion at the end, and that justifies your salary? At one time, you seemed to be improving, and stepping up your game, but I don’t see it anymore. I know old Joe Gilbertson is a cheap bastard, but I assume you wouldn’t be writing columns if he didn’t pay you. I don’t think he’s getting his money’s worth. You should join the ranks of that “machine” guy…

      Reply
  5. frank stetson

    More fluff, less stuff in Alice’s articles.

    And the throwaway opinions are just that, little kickers often with little support from her articles. Red meat mostly.

    Reply

Leave a reply

Your email address will not be published. Required fields are marked *