Megan Hogan, Goldman Sachs' global co-head of talent and former chief diversity officer, has left the Wall Street firm for rival Morgan Stanley. Her departure in January comes as Goldman and other major banks scale back public commitments to diversity, equity, and inclusion (DEI) initiatives following political pressure.
Hogan, who was at Goldman for nearly 12 years, confirmed the move, stating Morgan Stanley had extended her "an amazing opportunity" in talent development. She will begin her new role as head of talent development at Morgan Stanley in April, reporting to global head of talent Susan Reid.
Wall Street's DEI Pullback
The shift represents a significant retreat from previous corporate stances. In early 2025, following an executive order from President Donald Trump, Goldman Sachs began scrubbing DEI language from its public-facing materials. Earlier this month, the bank agreed to remove race, gender identity, and sexual orientation from its board-member selection criteria after pressure from a conservative shareholder group.
A bank spokesperson stated the changes reflect "the changing legal environment," adding that Goldman stands by the benefit of diverse perspectives but is "following the law" while running programs to "attract the best talent." The firm has also stopped highlighting specific DEI targets in annual reports, a practice common after 2020.
Leadership Reshuffle and New Mandate
Goldman is expected to name managing director Lauren Uranker as the new sole head of talent development, engagement, and management later this week. Uranker, who joined the firm about 14 years ago, was appointed global co-head of talent alongside Hogan in mid-2025.
Her new mandate will focus on the transition to AI-supported work, team growth, and employee retention. While her title contains no direct reference to DEI, a source said the role will still encompass programming designed to advance workplace inclusion.
Broader Industry Trend
Corporate America, including JPMorgan, Citi, and Morgan Stanley, has eased its use of the term "DEI" and associated language since early 2025. President Trump touted the crackdown during his recent State of the Union address, declaring, "We ended DEI in America."
Goldman was once a vocal advocate for workplace inclusion. In 2020, CEO David Solomon championed policies requiring diverse boards before the bank would help companies go public—a rule killed last year. Former chief strategy officer Stephanie Cohen said in 2020 that Goldman viewed these issues as vital for commercial success.
Retention Challenges and Progress
Hogan's exit compounds a long-standing challenge for Goldman: retaining senior female leaders. The bank has faced criticism over whether it has done enough to support their career progression.
CEO David Solomon acknowledged this past fall that while progress has been made, especially in senior ranks, results were "candidly not enough." A spokesperson noted the firm has increased the total share of female managing directors by 3% since 2021.
Hogan's predecessor, Erika Irish Brown, left Goldman for Citi in 2021 to lead DEI efforts there.