The CEO of Wells Fargo has issued an apology after making remarks that the Black talent pool is "limited."
In a memo sent to staff in June, Charlie Scharf said, "We need more diverse representation on our operating committee," Wells Fargo's top executives. "While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of Black talent to recruit from."
He continued, "Our progress will not be a straight line given the experience required in some of our roles, but I would ask that you judge our progress two years into my tenure as CEO."
Word of the memo leaked... and now he's sorry.
"There are many talented diverse individuals working at Wells Fargo (WFC) and throughout the financial services industry and I never meant to imply otherwise," he wrote in a statement per CNN Business. "It's clear to me that, across the industry, we have not done enough to improve diversity, especially at senior leadership levels. And there is no question Wells Fargo has to make meaningful progress to increase diverse representation."
People are already closing their accounts with the back.