re: Marcus by Goldman Sachs

I usually don't base my consumerism on political stances of the companies I do business with. However, I pulled my money out of Goldman Sachs a few months ago due to their hypocritical stance on investing only in businesses with minorities or women on their boards in the US and Europe, yet being silent on their partnerships with Chinese & Middle Eastern businesses.

quote:

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As Goldman Sachs Group Inc moves to increase diversity on corporate boards, the investment bank is not extending the initiative to a particularly challenged region: Asia.

Chief executive officer David Solomon revealed last week that starting in July the bank would not handle initial public offerings (IPOs) for companies that lack either a female or “diverse” director.

However, the rule applies only to IPOs in the US and Europe. Asia’s exclusion is striking, given how common all-male boards are in the region. Other bastions of male dominance, including Latin America and the Middle East, also went unmentioned.

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I realize my little account won't matter to them, but this was my choice not to support their hypocrisy. Believe me, I was loving the good rates, but for whatever reason this didn't sit well with me. YMMV