Goldman promotes diversity

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Goldman confirmed that it has had talks with Joy Nichols, who has run Nichols for 26 years, about how the agency might help in finding staff from ethnic minorities to fill positions ranging from support staff to executives.

But the bank added that it had yet to appoint the agency for any specific mandates although an agreement may be due during the next few weeks.

The US bank is already working closely with ethnic communities in London through its human resources department and its diversity strategist, Pamela Elms.

In the US, Goldman has made big strides with affirmative action to employ diverse staff across the bank and recently promoted several to managing director level. Ruth Simmons, the president of Smith College, was recently appointed to the Goldman Sachs board and the Goldman Foundation is run by Stephanie Bell-Rose.

In London and Europe Goldman Sachs is keen to take equally positive action. Along with other leading banks such as Citibank, JP Morgan and Deutsche Bank, it sponsors the Association of Graduate Windsor Fellows (AGWF) and works with the African and Caribbean Finance Forum, a business networking group.

The AGWF is part of the Windsor Fellowship programme, started with backing from the Prince of Wales, which helps fund young black and Asian students through university and into corporate life.

Its deputy chairman is Patrick Pinnock, who is joining Nichols later this month as managing director of its commercial division. He will be responsible for recruiting business and finance.

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