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Goldman Sachs shares close higher on Wednesday, black employees represent nearly 7% of US headcount, bank says

According to Goldman Sachs Group Inc’s (GS) 2020 sustainability report, Black employees comprised 6.8% of its workforce in the United States and also represented about 3% of its senior executive team.

In comparison, in 2019, black employees made up 6.6% of the bank’s US workforce.

The report also showed that Goldman Sachs employed a total of 1,425 people of Black origin last year, or 649 men and 776 women.

Meanwhile, last year, Black employees made up 3.2% of Goldman Sachs’s 1,548 senior executive leadership, managers and senior officials, compared with 2.7% in 2019.

According to the report, 57 Black men and 48 Black women were among the bank’s 3,411 first-level or mid-level officials and managers last year.

Goldman Sachs shares closed higher for the seventh time in the past ten trading sessions in New York on Wednesday. It has also been the sharpest single-session gain since April 16th. The stock went up 1.02% ($3.39) to $335.27, after touching an intraday low at $327.81, or a price level not seen since April 14th ($326.73).

Shares of Goldman Sachs Group Inc have risen 27.14% so far in 2021 compared with an 11.11% gain for the benchmark index, S&P 500 (SPX).

In 2020, Goldman Sachs Group’s stock went up 14.69%, thus, it underperformed the S&P 500, which registered a 16.26% gain.

Previously, the Wall Street bank had said that by 2025, it expected 7% of its employees in vice president roles to be of Black origin and 9% to be of Latino origin.

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