Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

Updated: September 23, 2020

Wells Fargo CEO apologizes for saying the Black talent pool is limited

Photo | Contributed A Wells Fargo branch.
By Chris Isidore, CNN Business

Wells Fargo CEO Charlie Scharf has apologized after he reportedly blamed the lack of diversity at the bank on "a very limited pool of Black talent to recruit from."

In a memo to employees released by the bank, Scharf apologized for what he was was "an insensitive comment reflecting my own unconscious bias."

"There are many talented diverse individuals working at Wells Fargo and throughout the financial services industry and I never meant to imply otherwise," he wrote. "It's clear to me that, across the industry, we have not done enough to improve diversity, especially at senior leadership levels. And there is no question Wells Fargo has to make meaningful progress to increase diverse representation."

Read more

HBJ special feature: Exploring diversity in CT's economy

Sign up for Enews

Most Recent

Most Recent

Related Content

Thumbnail Wells Fargo’s new CT commercial banking leader Gallo sees growth opportunities in Nutmeg State
Thumbnail Big banks built a $35 billion fortress to protect against coronavirus bankruptcies and defaults
Thumbnail Big banks accused of favoring more lucrative small business loans in coronavirus program
Thumbnail Wells Fargo lost $2.4 billion last quarter, setting the stage for its first dividend cut since the Great Recession

0 Comments

Order a PDF