Another day, another headline that looks like it’s straight from the satire site, The Babylon Bee.
State Street Global Advisors — actually one of the world’s largest investment companies — has announced that henceforth, its leaders will need permission to hire white men as part of the company’s new diversity hiring initiative. “This is now front and central for State Street; it’s on every senior executive’s scorecard,” said Jess McNicholas, the company’s head of Inclusion, diversity and corporate citizenship
State Street Global Advisors is the investment management division of State Street Corporation and the world’s fourth-largest asset manager, with nearly $3.59 trillion in listed assets under management as of March 31, 2021. Nearly 40,000 people work for the company, with more than 30 locations around the world.
A quick visit to the company’s website will reveal, among other things, that front and center is:
Accent on Climate Change
Investing opportunities and risk will be affected by the decisions and goals made at COP26 in the near future.
Climate Compendium gives insight and research to aid you with investing in an era marked by climate change.
Get more information about our ESG-related solutions.
Any questions?
“All of our leaders have to demonstrate at their annual appraisals what they have done to improve Female representationThe number of coworkers from Ethnic-minority background” the company further said, as reported by Fox News. Nope, that’s not sexist or racist at all.
Sunday Times reports that the company intends to increase the proportion of Black, Asian, and other minorities in top positions within the organization by 2023. If executives don’t meet the target, they will face lowered bonuses. Aha! Quotas Yeah, that’s not racist or There are many wrongsYou can choose either.
You can get even more crazy.
According to The Sunday Times, recruiters now need to create panels with four to five people when they are hiring middle-management staff. While the investment firm will still hire white men, recruiters will now be required to show that women and minority applicants were interviewed by the panels.
McNichols — again, gang, the company’s head of inclusion, diversity, and corporate citizenship — said State Street is pledging to “hold ourselves accountable for strengthening black and Latinx owned businesses.”
You know what Mr. Head of Inclusion, Diversity, and Corporate Citizens is?
Two things: “Hispanic” is a more inclusive term than “Latino.” That said, a 2020 Pew Research Center poll found that just one in four Hispanics have heard the ridiculous term “Latinx,” and even worse (better), less than 3 percent of Hispanics use it.
State Street made headlines in 2017, as noted by Fox News, when it commissioned the statue of a girl staring down Wall Street’s “Charging Bull” sculpture for International Women’s Day.
The sculpture, known as the “Fearless Girl Statue,” was later moved to the New York Stock Exchange building after complaints from the sculptor of the Charging Bull.
To celebrate its gender diversity index fund, the asset management co SSGA commissioned installation of the Fearless Girl Statue a few years back. This fund includes top-ranked companies like Visa, Nike Inc, Salesforce and Nike Inc. pic.twitter.com/BEbiXdmTnn
— ND (@navdhad) November 1, 2021
If my last line above doesn’t seem like it’s written by the guys at Babylon Bee…
About Post Author
