Goldman Sachs CEO David Solomon: The bank hasn't made enough progress in hiring women

Core Insights - Goldman Sachs CEO David Solomon acknowledged that the bank still has work to do regarding gender diversity, particularly at senior levels [1][2] - The bank has made progress in promoting women, with a record 31% of the most recent class of managing directors being women, and 26 women promoted to partner last year [4] - Solomon estimated that women constitute 41% of Goldman's total workforce, while the 2023 People Strategy Report indicated that approximately 43% of employees in the US are women [5] Gender Diversity Progress - Solomon highlighted that while there has been progress, it is not sufficient, and the bank remains focused on creating opportunities for women [2][3] - An internal memo acknowledged that progress has been slow and reiterated the commitment to elevating and retaining women within the firm [3] Leadership Changes - Goldman Sachs is set to announce its newest class of managing directors in early November, which could impact the demographics of the bank's leadership [4] - Since Solomon became CEO in late 2018, approximately two-thirds of the women who were partners have left or no longer held the title by March 2024, compared to nearly half of male partners [6]