BlackRock, one of the world’s largest asset management firms, has sent a company-wide email announcing changes to its diversity, equity, and inclusion (DEI) policies. The move comes as corporations across the US continue to drop DEI initiatives amid shifting regulatory environments.
In a memo signed by CEO Larry Fink, President Robert Kapito, and Global Head of Human Resources Caroline Heller, BlackRock stated that it will no longer renew its representation goals in the workforce set to expire in 2024. The company will instead welcome diverse talent worldwide without requiring managers to interview diverse candidates for open positions.
However, BlackRock remains committed to fostering a culture that values diversity and inclusion, citing its core principles as key to success. The company will combine its Talent Management and DEI teams to form a new global Talent and Culture team, co-led by Nick Avery and Michelle Gadsden-Williams.
BlackRock’s shift in stance on DEI policies follows recent changes in the US legal environment, including an executive order signed by President Donald Trump instructing federal agencies to investigate corporate DEI programs. The company will adapt to these changes while maintaining its competitive advantage and commitment to delivering results for clients.
Source: https://www.foxbusiness.com/politics/blackrock-flips-script-dei-policies-company-wide-email-announcing-several-changes