Bloomberg Tax
May 26, 2023, 4:00 AM

The City of London Lost Its Way on the Path to Racial Equity

Olivia Konotey-Ahulu
Olivia Konotey-Ahulu
Bloomberg News

In 2020, just after George Floyd’s murder in the US, one of the most senior Black professionals in the City of London, KPMG UK Partner and Vice-Chair Richard Iferenta, appealed to CEOs and chairpeople of the business community “to stamp out racism of all forms.” Three years later, he has yet to see the change and ambition he asked for.

“Do I think we’re doing enough? No,” Iferenta, who chairs Business in the Community’s Race Equality Leadership Team, said. “We need much more radical change — we need much more radical inclusion.”

The months after Floyd’s murder bore witness to a tidal wave of apologies across ...

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