Global Financial Institutions Legal Departments Share D&I Successes and Lessons Learned | JD Supra

Global Financial Institutions Legal Departments Share D&I Successes and Lessons Learned | JD Supra

Law firms and financial institutions in the United States have made progress with respect to women and people of color representation, but these populations remain starkly underrepresented, particularly in senior level positions. For example, women and people of color make up approximately 47.5 percent and 26.5 percent of law firm associates in US law firms, respectively.1 However, Black women and Latinx women each represent less than 1 percent of all partners in US law firms.2 In a study of 44 of America’s largest banks, minorities made up approximately 42 percent of the banks’ workforce in 2018.3 That representation dropped precipitously at the executive and senior level positions for the banks — the study found that minorities accounted for only 19 percent of executive and senior level employees.4 This significant drop in representation at senior levels is also seen among women in the financial services industry. Consider this financial-services representation chart5 by corporate role, gender and race in 2021.

Financial institutions and legal departments share D&I successes and lessons learned.

https://www.jdsupra.com/legalnews/global-financial-institutions-legal-2563829/

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