Posted on 11/07/2021 8:26:03 AM PST by rickmichaels
Bosses at one of the world's biggest investment firms will need to get special approval to hire white men as part of a new diversity drive.
State Street Global Advisors aims to triple the number of black, Asian and other minority staff in senior roles by 2023 as part of a drive to improve diversity within its middle and senior management.
Failure to meet the target will result in a drop in executives' bonuses, reports The Times.
State Street, which has 30 offices worldwide, including Canary Wharf in London, currently employs 39,400 people.
Jess McNicholas, the bank’s head of inclusion, diversity and corporate citizenship in London, said: 'This is now front and central for State Street — it’s on every senior executive’s scorecard.
'All of our leaders have to demonstrate at their annual appraisals what they have done to improve female representation and the number of colleagues from ethnic-minority backgrounds.'
Recruiters must now create a panel of four or five people that includes a woman and someone of an ethnic-minority background when hiring middle management staff - employees at vice-president and above.
Ms McNicholas added that State Street will still hire white men, but recruiters will now need to show that women and ethnic minority candidates have been interviewed by the diverse panels.
The new drive will also see the investment firm increase spending with diverse suppliers over the next three years..
It has pledged to 'hold ourselves accountable for strengthening black and Latinx owned businesses'.
(Excerpt) Read more at dailymail.co.uk ...
This **** has got to stop! It’s nothing but divisive and damaging. Stick with the meritocracy model.
May the best man or woman win.
And I present, State Street’s board of directors.
https://investors.statestreet.com/corporate-governance/board-of-directors/default.aspx
Could use a bit more diversity, hmmm???
The vile hypocrisy of these creatures disgusts me.
BlackRock, Vanguard snd State Street are the biggest investors in almost ever public corporation and THEY are behind the huge “woke” war on traditional whites, men and Christians in corporate Amerika.
Why? They are wanting to destroy our amazng Republic and install their digital passport, social credit corporate authoritarian dystopia, with one of those three corporations ruling us all at the top.
Will they also direct that the last person leaving after they close be a person of color who will turn out the lights?
The corporation would just become the next Bear Stearns.
A few years back, my 401(k) rollover check that was being directed to my newly opened IRA was funded by State Street. They did some squirrelly things with the mutual funds they offered in my mega corp’s 401(k) plan. Was relieved when I performed the rollover. Hearing these stories just reinforces that decision.
There is something else going on with this, maybe it’s just to make a woke press release, but you can bet your bottom dollar these guys at State Street are not about to do anything that isn’t about increasing their wealth and power.
They don’t give a red rat’s ass about diversity or anything else.
My daughter’s very smart broker, whom I met, has a wife from Thailand. Does that count?
“State Street will still hire white men, but recruiters will now need to show that women and ethnic minority candidates have been interviewed by the diverse panels.”
The NFL is doing this. They are telling the teams that the interview process used when hiring coachs must include an interview with at least one black.
As for State Street, if I were doing business with a firm such as this I would immediately cease.
I remember working at a place and asking what my promotion chances were. My manager told me that there were too many white males in management, and as a government contractor they couldn’t promote any more white males for a while.
So I left shortly thereafter, for an offer with more money.
Seems more like a drive to create chaos and disunity.
Yup—white males get discriminated against in the real world—and then _they_ are accused of racism.
F&^% that s^%$!
“I understand the NFL teams are going to institute a similar policy: They’re going to halt the signing of Black athletes until they have signed enough Eskimo, Samoan, and ethnic Japanese and Chinese quarterbacks, etc. to reach parity with the national average.”
That does not go far enough. They need to consider so called gender and other identities as well to say nothing of opening positions for disabled or handicapped or whatever they are called now. Just because you are a nonwhite, transgender, Furbie in a wheelchair does not mean you cannot lead the team.
Britain might be the only other country more woke than this country.
The Marxists are trying to destroy Capitalism so they can replace it with their Communist style of government.
Diversity in Hiring will be replaced by paying extortion money to diversity groups instead of hiring minorities. BTDT
The war on white people keeps on going.
Particularly white men.
“Just because you are a nonwhite, transgender, Furbie in a wheelchair does not mean you cannot lead the team.”
LMAO
Needs repeating
“Just because you are a nonwhite, transgender, Furbie in a wheelchair does not mean you cannot lead the team.”
Yep, white people should pull their funds asap.
Before it disappears
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.