BlackRock has ended its diversity, equity and inclusion goals, senior executives said in a Friday memo, Bloomberg reports.

The world’s largest asset manager, which employs 21,000 staff, said it was making the adjustment because of recent “significant changes to the U.S. legal and policy environment related to Diversity, Equity and Inclusion (DEI) that apply to many companies, including BlackRock.”

Staff who had been devoted to DEI will be moved to a new Talent and Culture team, according to the memo signed by Chief Executive Officer Larry Fink, President Rob Kapito and Caroline Heller, global head of human resources.

BlackRock said it will continue to pursue varied hires: “We are committed to creating a culture that welcomes diverse people and perspectives to foster creative solutions and avoid groupthink,” the memo read.

BlackRock set goals in 2020 to increase its number of Black and Latino employees by 30% in the U.S. and to double the number of those leaders by 2024.

These goals are not being renewed, the executives said in the memo.

Many leading U.S. companies, including financial firms Goldman Sachs and Citigroup, have rolled back their DEI programs as President Donald Trump has moved to end DEI.

BlackRock’s 2024 annual report makes no mention of DEI and did not state the percentage of minority workers.

BlackRock earlier ended its board diversity targets in shareholder voting guidelines.

Conservatives have long criticized BlackRock for its advocacy for environmental, social and governance investing. State pension plans pulled billions of dollars from the firm in response to its ESG support.