Has Anything Actually Changed in IB Post-Trump (Culture / DEI / ESG)?

I have seen plenty of media articles and WSO comments saying that DEI and ESG are dead in finance since the political shift post-Trump. But I have not really seen a proper thread on here breaking down what has actually changed inside investment banking.

From what I can tell, at least in the UK, it does not feel like much has shifted. For example, I know that for 2025 summer analyst recruitment at one of the US MM boutiques in London (PS / RJ / HW / WB), their entire London intern class did not include a single white person. That does not exactly look like the end of DEI hiring.

So I wanted to ask:

• Has banking culture (in the US or UK) really changed since DEI and ESG supposedly fell out of favour
• Is HR just quieter about it while still pushing the same agendas behind the scenes
• Or are firms genuinely stepping back compared to the emphasis seen in the late 2010s and early 2020s

Curious to hear honest experiences from people who are in the industry or who have gone through recruiting recently.