Wall Street Firms Build Diversity Practices After Court Decision

The Supreme Court’s ban of affirmative action in college admissions has prompted a new wave of practices specializing in diversity, equity and inclusion at law firms including Wall Street’s Simpson Thacher and Paul Weiss.

The firms decided there was enough business to justify creating the practice areas because of client queries about racial equity audits and whether diversity pushes would withstand possible legal challenges after the Supreme Court decision.

“We were being responsive to clients who are increasingly coming to us, even before the Supreme Court decision this summer,” former US Attorney General Loretta Lynch, who helps lead the new ...