After George Floyd's death, Gizelle George-Joseph, Partner and Global Chief Operating Officer of the Global Investment Research Division at Goldman Sachs realized that she could leverage her platform to bring a voice to the issues in the Black community. In this episode, she and Kathryn discuss how businesses can be a force for positive change, the importance of diversity in leadership, and the role of inclusive research in shaping a more equitable future.
“Black women, for all of the progress that we've made over the last few decades…experience just massive inequalities across such a broad range of economic measures.”
Gizelle’s research uncovered the massive inequalities still experienced by Black women, which led to Goldman Sachs’ 1 Million Black Women, an investment initiative that committed $10 billion in direct investment capital and $100 million in philanthropic support to address the dual disproportionate gender and racial biases that Black women have faced for generations.
“If we as a society can effectively address gender and racial economic disparities, it is not just the right thing to do…it's actually really good for business and good for the economy.”
Addressing structural problems like racism actually helps the economy. Doing well in business isn't just about profits. It's about building something that resonates globally, empowers communities, addresses global challenges, and leaves a positive mark on our planet.
“As an investor, I have no interest in just making individuals rich. I am in it because I wanna see communities be right.”
Scarcity-based capitalism creates a winner-take-all mentality. But stakeholder capitalism says that we are all in this together and that we all can win. It’s really about building wealth in the community, both for those who excel in the capitalist ecosystem and those who are unable to participate actively in it.
Guest
Gizelle George Joseph: https://www.linkedin.com/in/gizelle-george-joseph-9a127319/
Global Impact w/ Gizelle George-Joseph