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Goldman Sachs CEO David Solomon. Photo: Michael Kovac/Getty Images

Goldman Sachs CEO David Solomon told CNBC Thursday the investment bank won't help companies go public unless they have at least one diverse board candidate, “with a focus on women,” starting in July.

Why it matters: Government and shareholders are pressing public companies to put more women on boards. Goldman’s announcement will push some private companies to think about diversifying their boards before going public.

Details: Solomon said the policy is good for business, noting that U.S. companies with at least one woman on their board have outperformed those without over the last four years. He added that Goldman could help clients identify women candidates, if needed.

  • Solomon said board candidates are often selected from people who have already served as CEOs or CFOs of companies, a practice he said often leaves women out of contention.

What he's saying: “Starting on July 1 in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a focus on women [...] And we’re going to move towards 2021 requesting two," Solomon said on CNBC's Squawk Box.

  • “Look, we might miss some business, but in the long run, this I think is the best advice for companies that want to drive premium returns for their shareholders over time.”

Of note: Four of the 11 members on Goldman's board are women.

Go deeper:

Go deeper

24 mins ago - World

Barbados becomes a republic, replacing U.K. queen with president

Combination images of Dame Sandra Mason, president of Barbados, and Britain's Prince Charles at her swearing-in ceremony in Bridgetown, Barbados, late Monday.

Barbados officially became a republic at midnight local time after Dame Sandra Mason was sworn in as the Caribbean nation's first president in a ceremony attended by the United Kingdom's Prince Charles.

Why it matters: Mason replaced Britain's Queen Elizabeth as head of state Tuesday — removing the country's final remaining colonial tie to the U.K. almost 400 years after the first British ships arrived in Barbados.

Right-wingers making McCarthy sweat for future Speaker post

House Minority Leader Kevin McCarthy stands with his Republican colleagues outside the House on Nov. 17. Photo: Stefani Reynolds/Bloomberg via Getty Images

Right-wing elements in the Republican Party are complicating House Minority Leader Kevin McCarthy's attempts to become the next speaker of the House should the GOP take back the majority in 2022.

Why it matters: While McCarthy has worked carefully to build trust among the conservatives who tanked his chances at clinching the speakership in 2015, they're still circling ahead of the next Speaker vote in January 2023.

4 hours ago - Politics & Policy

Congress sprints to meet crush of deadlines

Illustration: Aïda Amer/Axios

Congressional leaders have been pushing off vital action for months — and a lot of it will catch up with them in December, which begins Wednesday.

Driving the news: Funding for the federal government is set to expire at midnight on Friday. There are also consequential deadlines related to the debt limit, President Biden's agenda and annual actions like voting on the National Defense Authorization Act.