High-profile police killings of black people—most recently George Floyd—have galvanized the movement for racial justice. That movement, together with the disproportionate impacts of the COVID-19 pandemic, have focused the attention of media, the public and policy makers on systemic racism, racialized violence and inequities in employment, health care, and the criminal justice system. Goldman touts its $10 million Fund for Racial Equity, which will support organizations addressing racial injustice, and the $17 million it deployed to organizations supporting [COVID-19] relief efforts in communities of color.1 But Goldman’s own diversity and inclusion record is subpar. According to its EEO-1 report, while Black workers make up 6.8% of Goldman’s U.S. workforce; only 3.2% of senior managers and 3.1% of lower level managers are Black.2 A viral June 2020 email from a Black managing director stated: [W]hile our firm expresses a commitment to equality and social justice up top, [junior colleagues] don’t necessarily see commitment and support from their direct managers.3 Goldman’s proxy voting is misaligned with its stated commitment to racial equity. Of the 18 asset managers with assets under management of at least $1 trillion, Goldman was one of only five that voted against every racial equity audit proposal in 2021. Goldman also voted to reelect the nominating committee chairs at 87% of S&P 500 companies with all-white boards. Goldman underwrites municipal bonds which proceeds pay police brutality settlements. Goldman was lead underwriter for a 2017 Chicago offering that allocated $225 million and for settlements and judgments and a 2020 refunding bond intended to plug a huge hole in the Chicago budget,4 including a $90 million increase in the amount appropriated for settlements and judgments of various claims, including police brutality claims.5 One report characterized these bonds as a transfer of wealth from over-policed communities of color to Wall Street and wealthy investors.6 Goldman’s philanthropy fund has donated to the Los Angeles, New York City, Houston and other police foundations,7 and Goldman Sachs Asset Management co-chaired the New York City police foundation’s 2019 annual gala.8 Police foundations buy equipment for police departments, including surveillancetechnology that has been used to target communities of color and nonviolent protestors. We urge Goldman to assess its behavior through a racial equity lens to identify how it contributes to systemic racism, and how it could begin to help dismantle it.