Investment company staff required to get special approval to hire white men

Investment company staff required to get special approval to hire white men

A multinational investment firm is forcing staff to seek approval before hiring white men in one of the most stringent diversity policies in the financial sector to date.

State Street said it would require managers to demonstrate they had interviewed female and ethnic minority candidates before the company would sign off the hiring of a white man to a senior role.

It is the latest effort to diversify recruitment, with executives’ bonuses also tied to whether they had met targets to boost recruitment of minority staff.