If you want to hire a white man, get permission: an American company has introduced strange rules

One of the largest investment firms in the world will need permission to hire white men, reports fox business.

Photo: Shutterstock

Executives at one of the world's largest investment firms, State Street Global Advisors, will have to ask for permission to hire white people as it rolls out a diversity of hiring initiative.

“This is top of mind for State Street now – it’s on every executive’s scorecard,” said Jess McNicholas, the London-based bank’s head of inclusion, diversity and corporate citizenship.

“All our leaders must demonstrate at their annual assessments what they have done to improve the representation of women and the number of ethnic minority colleagues.”

The company plans to triple the number of Black, Asian and other minority employees in leadership positions by 2023. If executives fail to meet their goals, they will face reduced bonuses.

When hiring middle management personnel, recruiters will now have to create teams of four or five employees, including a woman and a minority person.

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McNicholas said the firm will continue to hire white men, but recruiters must show that women and minority candidates have been interviewed.

The company is committed to "being responsible for strengthening Black and Latino-owned businesses."

State Street Corporation is based in Boston and founded in 1792. It currently has about 40 employees in 000 offices around the world.

State Street previously made headlines in 2017 when a statue of a girl looking at a Charging Bull on Wall Street was commissioned for International Women's Day.

Photo: Shutterstock

The sculpture, known as the Fearless Girl Statue, was later moved to the New York Stock Exchange building after complaints from the Charging Bull sculptor.

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