Wells Fargo's CEO Apologized After Blaming The Bank's Lack Of Diversity On A 'Limited Pool Of Black Talent'

Wells Fargo CEO Charles Scharf apologized to employees after he blamed the bank's lack of diversity on"a very limited pool of black talent to recruit from," according to a memo obtained by BuzzFeed News.

Scharf made the original comment during a Zoom meeting with employees in the summer and then again in a memo where the company announced a set of initiatives to increase diversity followingacross the country over the killing of Black people by police and a nationwide reckoning over racism. In the memo, a portion that was obtained by BuzzFeed News, Scharf spoke about trying to increase diversity in the bank's senior positions. The memo and Scharf's comments were"While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from with this specific experience as our industry does not have enough diversity in most senior roles," Scharf said in the memo.

Reuters reported the comment bothered and exasperated several Black employees. The comment was also met with furor online after it was reported by multiple news agencies. Among those who responded to Scharf's comments was Democratic Rep. Alexandria Ocasio-Cortez, who quipped,"Perhaps it's the CEO of Wells Fargo who lacks the talent to recruit Black workers."

Save it!!!!

Not good enough

A limited pool? If this is the case, why is there a limited pool?

And immediately tokenized the few diverse hires he’s made while also ignoring the scores of women and BIPOC he’s fired in the last year to make room for his white male pals

The problem is we have hearts and big ones at that. They need cold-blooded lifeless pushovers to look away when they do evil shit.

They can keep their fucking banks.

Why did he even bother... he meant what he said

That was definitely not an apology.

Disingenuous.

He needs to look at greenwoodprochi working in Chicago to turn black students into finance professionals

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