Goldman adopted its board diversity initiative in 2020 as CEO David Solomon vowed to work only with IPO clients that have at least one diverse board member. The next year, Goldman bumped that requirement up to two. Around the same time, Goldman created a position dedicated to helping clients find diverse board members, which managing director Ilana Wolfe filled. During her time as head of corporate board engagement, Wolfe and her team have placed about 125 diverse people on Goldman clients' boards. The bank plans to continue to offer board placement service, a spokesperson said. "I thought, 'it's great we put out this commitment, but wouldn't it be even greater if we were part of the solution and helped our clients get there?'" Wolfe told Insider in 2023. Goldman's change of policy was reported earlier on Tuesday by Bloomberg.