Diversity on Wall Street

The video discusses the lack of diversity in top financial ranks, highlighting that only four of the 200 largest U.S. financial services companies have female CEOs. Jane Fraser's appointment as Citigroup's CEO marks a significant milestone. Despite progress, diversity in senior ranks remains insufficient, with less than 3% of executives being African American. Companies like Black Rock are committing to increasing diversity. Wells Fargo's CEO faced backlash for comments on minority talent, emphasizing the need for more inclusive hiring practices.

What significant milestone in diversity was achieved by Citigroup recently?

• Appointing the first female CEO of a major U.S. bank

• Introducing a diversity training program

• Achieving a 50% female workforce

• Eliminating the gender pay gap

Why is there a growing awareness of the need for diversity in senior ranks?

• It leads to better organizational outcomes

• It is mandated by law

• It reduces operational costs

• It increases shareholder profits

What percentage of executives and senior managers at Citigroup are African American?

• 5%

• 10%

• 2%

• 3%

What commitment has Black Rock made regarding its workforce by 2024?

• To have 50% female employees

• To have a majority minority workforce

• To increase black employees by 30%

• To eliminate all forms of bias

What challenge did Wells Fargo's CEO mention regarding diversity goals?

• High turnover rates

• Lack of interest from minority candidates

• Budget constraints

• Insufficient minority talent