Goldman Sachs Group Inc. said it will commit $10 billion in investment capital over the coming decade to help address the disproportionate biases that Black women have faced for generations.
The bank also will put $100 million toward philanthropy under the program, which has a goal of impacting the lives of 1 million Black women by 2030, according to a statement Wednesday.
As part of the initiative, New York-based Goldman is working with nonprofit organization Hope Enterprise Corp., mayors and historically Black colleges and universities across the U.S. South to distribute and lend capital.
“No investment could have a bigger impact than unlocking the economic potential of Black women,” Goldman Chief Executive David Solomon said in the statement. “In the face of significant disparities, they’ve shown admirable resilience, especially as they’re starting businesses faster than anyone else in the U.S.”
A four-advisor group from UBS joins Raymond James in Beachwood while a 36-year Cetera veteran moves his $390 million practice to LPL.
Bluespring, Robertson Stephens, Cetera and Aprio each close acquisitions as independent advisory firms weigh their next chapter.
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Executives allegedly sold while key revenue metric was inflated.
The advisor, Gregory W. Ricker, started his career in the securities industry in 1995.
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