BoA, BlackRock drop DEI amid White House's 'war on woke'

BlackRock and Bank of America dropped their Diversity, Equity, and Inclusion policies — becoming the latest Wall Street giants to scrap the controversial initiative after the White House declared war on woke in corporate America.Regulatory filings reviewed by The Post show that Larry Fink’s BlackRock, the world’s largest asset manager with $11.4 trillion under management, and the Brian Moynihan-led lender have axed language that promoted the representation and participation of different minority groups.The moves follow a crackdown led by President Donald Trump on DEI in the workplace, tasking Attorney General Pam Bondi in a Jan.21 executive order that asked her to stamp out the practice.

Bondi then vowed in a Feb.5 memo that her DOJ would “investigate, eliminate, and penalize” such policies in the private sector.BlackRock, in its latest annual report filed late Tuesday, said that the company’s business “requires attracting the best people from across the world.”“BlackRock is committed to creating an environment that supports top talent and fosters diverse perspectives to avoid groupthink,” the report added.That represents a huge climbdown for the Democrat-donating CEO, who joined the chorus of Wall Street executives backing DEI in the aftermath of the killing of George Floyd in 2020 and the Black Lives Matter movement.In a letter to shareholders in 2021, Fink claimed: “To truly drive change, we must embed DEI into everything we do.”The Post has reached out to Blackrock for comment.BofA also backed off the much-criticized DEI policies in its annual report filed on Tuesday evening, formally ending the requirements for hiring and interviewing bankers.“We are deliberate about the many ways we seek to create an inclusive environment where everyone hasthe opportunity to achieve their career goals,” the Charlotte-based firm wrote.A rep for Bank of America confirmed that was no longer company policy.“We evaluate and adjust our programs in li...