Wells Fargo CEO Charles Scharf sorry for complaint about Black Talent

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(Journalist)
– The Wells Fargo CEO apologized for an “insensitive” memo in which he said the bank was not meeting diversity goals due to a shortage of skilled black workers. “The sad reality is that there is a very limited pool of black talent from which to recruit with this specific experience, as our industry does not have enough diversity in most leadership positions,” Charles Scharf said in June memo, by Bloomberg. On Wednesday, he said it was a “callous comment” reflecting his “own unconscious bias”. “There are many talented and diverse people who work at Wells Fargo and in the financial services industry and I never meant to suggest otherwise,” said Scharf.

“Across the industry, we have not done enough to improve diversity, especially at senior management levels.” Scharf added, according to Reuters. But “there is no doubt that Wells Fargo needs to make significant progress to increase diverse representation,” said the CEO, who has pledged to double the number of black leaders in five years and urged leaders to consider minority candidates. for well-paying jobs and ensure that interview panels are also diverse. After reports on his June remarks this week, Scharf has come under fire from Democratic lawmakers, including Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez, CNN reports. from Wells Fargo who lacks the talent to recruit black workers, “Ocasio-Cortez tweeted. (Read more stories from Wells Fargo.)



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