Why Women Are Leaving Goldman Sachs

The Journal.

The Wall Street Journal

Business News, News, Daily News

4.2 • 5.8K Ratings

🗓️ 19 March 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

When David Solomon became CEO of Goldman Sachs just over five years ago, he made promoting women to senior levels of the firm a priority. But female executives are heading for the door—among them, Stephanie Cohen, one of the most senior executives at the company, who announced her departure Monday. WSJ’s AnnaMaria Andriotis unpacks what’s happening at the Wall Street giant. Further Reading: -Women Aren’t Getting the Big Jobs at Goldman Sachs, and They’re Heading for the Exits -Stephanie Cohen Is Latest Senior Goldman Executive to Depart -Goldman Sachs to Pay $215 Million to Settle Female Employees’ Discrimination Case Further Listening: -The War Inside Goldman Sachs Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The CEO of Goldman Sachs, David Solomon, has long said that promoting women to senior executive jobs is one of his top priorities.
0:16.3	Our colleague Anna Maria Andriotis covers the company.
0:20.3	Advancing women further up the ranks in particular to its highest ranks has been a
0:28.7	priority of David's from even before he became CEO.
0:35.0	Solomon took over his CEO in late 2018.
0:39.0	In about a year and a half into his tenure,
0:41.0	he made a big statement in front of the company's investors. a We're extremely focused on the advancement of women and all underrepresented diverse professionals in the workplace.
0:56.0	So that was a big deal to have somebody like him, CEO of Goldman, acknowledged this publicly.
1:04.2	And it did set the tone for some things that followed at the firm.
1:18.0	And now we're several years into David Solomon's tenure as CEO of Goldman. How is the company doing when it comes to female executive leadership.
1:24.1	So we are a little bit over five years
1:29.0	into David's time, a CEO at Goldman and what women partners and several men partners at Goldman said
1:39.6	to me is they've not only not made advancements here with regards to moving women to the highest
1:46.0	ranks of the company, but they've actually moved backwards in some ways.
1:51.6	Welcome to the German. backwards in some ways.
1:58.0	Welcome to the journal, our show about money, business, and power. I'm Ryan Knutzen.
2:00.0	It's Tuesday, March 19th.
2:07.0	Coming up on the show,
2:08.0	why women aren't getting the big jobs at Goldman Sachs. This episode is brought to you by Empower.
2:25.0	If you're like most people, you've had your fair share of financial questions.
2:29.0	Questions like, will you be able to afford a third kid?
2:32.0	Will you be able to afford a third kid?
	...

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