BlackRock and Bank of America have dropped their Diversity, Equity, and Inclusion (DEI) policies, becoming the latest Wall Street giants to scrap these initiatives following the White House’s crackdown on ‘woke’ practices in corporate America. According to regulatory filings reviewed by The Post, BlackRock, the world’s largest asset manager with $11.4 trillion under management, and Bank of America have removed language promoting the representation and participation of minority groups. This follows President Donald Trump’s executive order tasking Attorney General Pam Bondi to eliminate such policies, with Bondi vowing to ‘investigate, eliminate, and penalize’ DEI practices in the private sector. In its latest annual report, BlackRock emphasized attracting top talent globally and fostering diverse perspectives to avoid groupthink. Similarly, Bank of America confirmed it is no longer enforcing DEI policies, adjusting programs in light of new laws and executive orders. This rollback mirrors actions by Wells Fargo, Citigroup, Morgan Stanley, and Goldman Sachs, signaling a broader shift in American finance. JPMorgan CEO Jamie Dimon, however, remains an outlier, affirming the bank’s commitment to diversity despite criticisms of DEI initiatives. Industry insiders suggest that while diversity hiring continues, some DEI policies had become counterproductive. — news from New York Post
