Asset manager BlackRock announced in a company-wide memo that it has ended its diversity, equity, and inclusion (DEI) goals.
“Delivering for clients requires attracting the best people from across the world,” BlackRock CEO Larry Fink said. “We are committed to creating a culture that welcomes diverse people and perspectives to foster creative solutions and avoid groupthink. These values have been fundamental to our One BlackRock culture since our founding 37 years ago.”
The email, obtained by Fox News, addresses the “significant changes to the U.S. legal and policy environment related to Diversity, Equity and Inclusion (DEI) that apply to many companies, including BlackRock.”
“In light of this, we are conducting an ongoing review of our global practices and announcing several changes today,” the email says, adding that the DEI team will combine with its Talent Management team to form the Talent and Culture Team. “Our employee networks, which are open to all employees and to which over 90% of employees belong, will continue to serve as important resources for our colleagues,” the email explains.
“Last year, we welcomed more than 3,000 new colleagues and we are adding many more in 2025,” the memo notes. “Our connected and inclusive culture is imperative to achieving our commercial objectives and delivering performance for our clients.”
BlackRock previously departed from the United Nations-supported Net Zero Asset Managers Initiative (NZAMI).
In a letter sent to clients, the company said its memberships with climate-centered organizations have “caused confusion regarding BlackRock’s practices and subjected us to legal inquiries from various public officials.” Its departure from NZAMI “does not change the way we develop products and solutions for clients or how we manage their portfolios.”
