Barclays (BCS) Plc is scaling back its staffing diversity goals in the US while continuing those efforts in other countries, Bloomberg reported on Tuesday, citing a company memo it obtained.
The report quotes Barclays CEO CS Venkatakrishnan in the memo explaining the revisions reflect changing US policies, without directly addressing an executive order signed in January by President Donald Trump barring companies with active diversity, equality and inclusion programs from receiving federal contracts.
"As a global organization, we have always complied with the local requirements in the jurisdictions in which we have operated," Venkatakrishnan said, later adding the company's DEI team is being renamed Group Inclusion and Opportunity.
Barclays did not immediately return messages from MT Newswires on Tuesday sent to its offices in the US and the UK seeking comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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