Commitments to gender and racial representation in financial markets have been escalating over the past several years, from Goldman Sachs to the International Finance Corporation. And it’s no wonder, research from McKinsey & Co. has indicated that companies in the top quartiles for ethnic diversity are 35 per cent more likely to generate higher than average profits. Similarly, companies with the highest gender and ethnic diversity in management had innovation revenue that was on average 19 per cent higher than counterparts with below-average diversity in leadership. Meanwhile, Fortune 100 companies with the highest women’s representation in leadership generated 53 per cent higher returns on equity.
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