Asset Management

City firms’ diversity drives fall victim to cost cutting, survey finds

Diversity programmes set up in the wake of George Floyd’s murder in 2020 are being hit with funding cuts and job losses, according to the latest Reboot survey

Reboot’s survey coincides with a growing reluctance among financial services professionals to speak out about racial issues within their organisation
Reboot’s survey coincides with a growing reluctance among financial services professionals to speak out about racial issues within their organisation Photo: Getty Images

Diversity, equity and inclusion initiatives that were once championed by City bosses are being scaled back, with financial services professionals criticising chief executives for paying “lip service” to ethnic diversity. 

When George Floyd was murdered by US police in 2020, senior finance executives including Goldman Sachs boss David Solomon and JPMorgan chief Jamie Dimon pledged support to the resurgent Black Lives Matter movement.

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