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Wall Street is about to get a new investment bank, one that very deliberately shatters the glass ceiling. The firm, Independence Point Advisors, will be both owned and managed by women and minorities -- a rarity in an industry long dominated by White men.
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Across Wall Street, many women and members of minority groups are frustrated after decades in which investment banks diversified their senior ranks at a glacial pace, leaving men atop all but one of the bulge-bracket and boutique firms. The risk for banks now is that dealmakers fed up with the barriers to advancement choose to defect, just as their bosses, vowing anew to speed the pace of change in management, are especially desperate to keep them.
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