Wells Fargo & Co Chief Executive Officer Charles Scharf has apologized for making insensitive remarks around race and diversity, seeking to quell a row over his references to a shortage of talent among minority groups.
Reuters reported on Tuesday that Scharf had exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there were not enough qualified minority candidates.
He also made the assertion in a company-wide memo on June 18 that announced diversity initiatives as nationwide protests broke out following the death of George Floyd, an unarmed African-American man, in police custody.
“There are many talented diverse individuals working at Wells Fargo and throughout the financial services industry and I never meant to imply otherwise,” Scharf said in a statement on Wednesday.
“Across the industry, we have not done enough to improve diversity, especially at senior leadership