Goldman Sachs is trying out a new strategy to get more women on the trading floor
- Goldman Sachs is offering hundreds of its new female recruits a one-year trial program to try out working as a trader.
- It's the latest effort by a big bank to try and improve long-standing gender imbalances on the trading floor.
Goldman Sachs is trying out a new program that will allow hundreds of its new female recruits a one-year trial to work as a trader. If they failed to thrive in that role, they'll have flexibility to switch to a new department within the firm.The program is meant to provide female recruits who have already worked in the securities division at the firm, say as a salesperson, with an opportunity to try out trading.Advertisement
The bank has taken initiatives like EMEA Women's Trader Academy to increase the number of women on the trading floor. In 2019, the number of Goldman's female traders increased by more than 140% from a year prior, according to a bank spokesman. Women represent half of all trading roles in this year's class of junior analysts. Financial News previously reported on the new program.
The program resembles the latest effort by a big bank to improve long-standing gender imbalances on the trading floor, which is known for being heavily-male dominated.Goldman's move takes place as new CEO David Solomon is trying to increase the number of women in senior roles at the bank. The bank is aiming to have women represent 50% of its global workforce in the near-future. Read more:Advertisement
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