Goldman Sachs Group Inc (NYSE:GS, ETR:GOS) has scrapped its board diversity rule, which required companies seeking stock market listings to have at least two diverse board members, including one woman.
International CEO Richard Gnodde said the rule had achieved its purpose and was no longer necessary.
The policy, introduced in 2020, aimed to promote diversity in corporate leadership but has now been dropped following legal challenges in the US.
He told the BBC: "I think what is important is that you have a diversity of views on that board and if you look at these companies they've all embraced diversity, it's moved along.
"This was a policy from a decade or so ago, I think it has served its purpose."
In the interview, Gnodde also called for immediate action on UK infrastructure projects, urging the government to fast-track investments in transport, energy, and construction.