U.S. Wells Fargo, the bank’s head, has apologized for the comments, saying the lack of diversity in the bank’s top rankings was responsible for the lack of minority candidates.
Comments made in a June call with employees and repeated in the memo were widely criticized after the report came out on Tuesday.
The head of the bank, Charles Scarf, said he had made “sensitive remarks reflecting my own unconscious prejudice”.
He said, ‘I’m sorry.’
Sorry In a message to employees Shared by the bank, following an earlier statement, in which Mr. Scarf said his comments were misinterpreted. “Sorry”.
“Wells Fargo and the entire financial services industry employ many talented diverse individuals and I never meant to suggest otherwise,” Mr Sharf said in a message on Wednesday.
“Across the industry, we haven’t done enough to improve diversity, especially at the senior leadership level.”
Mr. Scarf’s comments come as the corporate world faces scrutiny for handling diversity issues.
Wells Fargo’s own record on race has also been in the spotlight, as the pay firm has paid millions to settle discriminatory lending and rental investigations.
In June, following global protests over police brutality and racism, the bank announced a diversification initiative.
In a memo announcing the plans, Reuters reported: “While it may seem like an excuse, the unfortunate reality is that there is a very limited pool to recruit from black talent.”
The remarks drew criticism from businessmen as well as business leaders, such as Alexandria Ocasio-Cortez, a Liberal Congresswoman.
“Maybe it’s the CEO of Wells Fargo who doesn’t have the talent to hire black workers.” Ms Ocasio-Cortez said in a tweet.
Mr. Scarf, who joined Wells Fargo last year, listed the bank’s recent appointments as evidence of a variety of commitments, including adding two black staff to its operating operating committee.
He has promised to double the number of black leaders in the next five years and has tied administrative returns to reach diversity goals, among other changes.
“Teri McClure, a former executive at the United Parcel Service, who has lived among them,” said anyone who, given his status, his perspective and new facts, would have to give him the benefit of the doubt. Critics of Mr. Scarf told Reuters.
“The Wells Fargo team should use this as an opportunity to move forward,” he added.
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