By Ross Kerber

(Reuters) – Goldman Sachs Group Inc (NYSE 🙂 raised its Thursday number of diversifying directors for portfolio companies. It did so citing increasing shareholder expectations and increased demographic data about who is who.

Goldman Sachs Asset Management, which manages about $2 trillion in assets, will require that at least 10% of the directors of companies it holds have to be women.

A board that has between 11 and 20 directors would, by example, have at least two female directors. This is in addition to Goldman’s Goldman requirement of at least one women on boards.

Goldman also requires that companies within the, have at least one of their directors be from an ethnic group with a low representation. Goldman didn’t make this explicit requirement last year due to problems in obtaining specific information regarding directors’ races or ethnicities.

Winner explained that many more businesses have been sharing such information since then making it easier to comply with the request. We are communicating the importance to diversity to these businesses that we have better data. She stated that they need to take action.

Investors and employees are increasingly concerned about the lack of representation of women and minorities at corporate top levels.

Hispanic and Latino directors accounted for only 2.5% of California’s board seats as of June, despite the fact that they make up 39.4%.

Goldman Sachs will vote to disqualify members from nominating boards if they fail to live up its expectations. It will also continue voting against U.S. board members that don’t include women.

Winner stated that approximately 2,500 businesses worldwide would not comply with the new requirements.