#Goldman Sachs will invest $10 million to fight racial injustice

Goldman Sachs said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity.

The bank will match employee donations to recipient organizations, it told customers of its online bank, Marcus.

An e-mail by a Goldman employee about his experiences of racial injustice and criticizing managers at the Wall Street bank for not supporting junior bankers from diverse backgrounds went viral at the firm last week.

The e-mail coincided with other Wall Street executives and companies speaking out against racial inequality after the death of an African American man, George Floyd, during an arrest by white police officers on May 25.

Bank of America has pledged $1 billion to help communities address economic and racial inequality. The CEOs of JPMorgan Chase, Citigroup, Wells Fargo and Morgan Stanley have also made statements denouncing racism and discrimination.