July 26, 2018 / 9:57 PM / a year ago

MOVES-Goldman Sachs hires new chief diversity officer

July 26 (Reuters) - Goldman Sachs Group Inc has hired Erika Irish Brown to head the Wall Street bank’s efforts to recruit, retain and advance diverse professionals, according to an internal memo circulated on Wednesday and obtained by Reuters.

Given the title of chief diversity officer, Brown’s hiring comes as the multinational investment bank steps up efforts to diversify senior ranks and investments.

Brown previously served as Bloomberg’s first chief diversity and inclusion officer, and she led diversity hiring efforts at Bank of America Corp and Lehman Brothers.

“Erika has deep expertise across the diversity and inclusion space and has a strong understanding of our business, having spent the majority of her career in financial services,” the memo sent by Dane Holmes, head of human capital management for Goldman Sachs, said.

She will take up the new role on July 30, replacing Anilu Vazquez-Ubarri, who joined TPG Capital in June here as part of the private equity firm’s own effort to promote diversity and gender balance.

On Monday, Goldman announced in a memo to staff that it had added more women to its management committee, bringing the number up to seven of now 33 members, Bloomberg reported here The bank aims to have women make up half of its global workforce by 2021, beginning with new analysts.

Goldman Sachs will also pour $500 millihere into companies led, founded or owned by women to help close the gender gap in investing, the bank said in June.

The program is the second geared toward female entrepreneurs, following the philanthropic initiative “10,000 Women” that launched in 2008 and introduced an online education component in May. (Reporting by Rishika Dugyala Editing by Bill Berkrot)

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