An article by The New York Times explains the business case for boardroom diversity.
When big banks see a benefit in helping companies recruit more diverse directors, it’s a sign that there are not just morals at play — there is money at stake, too.
When Goldman Sachs announced that it would help companies go public only if they had at least one diverse board member — meaning that the bank wouldn’t work with I.P.O. hopefuls whose directors were all white men — it was met with a mix of support and skepticism. In the year since, with less fanfare, the bank has also built up a business to help recruit directors for those boards, which has expanded to cover public companies as well.