Goldman Sachs, one of Wall Street’s biggest names, is letting in more female partners along with minorities.
The investment bank says almost half of its new partners will come from diverse backgrounds.
Goldman Sachs has frequently come under fire for its “boys’ club” mentality, promoting mostly white men to senior roles.
Becoming partner at the investment bank is seen as entry into one of Wall Street’s most exclusive clubs.
Goldman’s partners collectively own a small stake in the firm and get a pay rise to a basic salary of $950,000 (£724,000).
On top of this, they also get exclusive access to the bank’s private investment funds and a share of future profits from them.
However, the number of employees it has made partner this year has fallen to its lowest level in decades.
A total of 60 staff will join the exclusive club, which the investment bank says is a result of a “highly selective process to identify each new generation of Goldman Sachs senior leaders”.
Goldman Sachs said 16 of the 60 were women, while four were black, three Hispanic and 10 Asian. A total of 32 were white men.