Charles Scharf-Wells Fargo CEO-Reportedly Says There’s A “Restricted Pool Of Black Expertise To Recruit From”

Charles Scharf, chief executive of Wells Fargo & Co, reportedly had a lot to say about blacks and the lack of talent.

According to NBC, Scharf reportedly made some comments at a Zoom meeting this summer that made many black employees feel somehow. He “reiterated” that the bank is struggling to meet diversity goals because there is not much talent for minorities to choose from, Reuters told NBC.

In a company-wide memo reportedly sent on June 18, Scharf stated, “It may sound like an excuse, but the unfortunate reality is that there is only a very limited pool of black talent to recruit from.” Said Sharp in the memo seen by Reuters. “

He also announced diversity initiatives on the same day when protests against George Floyd broke out around the world.

While many employees were offended, some said the meeting was “incredibly constructive”.

“The meeting was incredibly constructive … I was incredibly surprised at how sincere and sincere he is,” said Alex David, president of the Black / African American Connection Team Member Network.

Many black company executives in the United States expressed frustration.

“There’s an amazing amount of black talent,” said Ken Bacon, a former mortgage manager who serves on the boards of Comcast Corp, Ally Financial Inc and Welltower Inc. “When people say they can’t find the talent, they either don’t search hard enough or they don’t want to find it.”

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