Wells Fargo CEO apologizes for comments about diversity

U.S. & World

A sign is displayed outside of a Wells Fargo bank April 16, 2008 in San Francisco, California. (Photo by Justin Sullivan/Getty Images)

NEW YORK (AP) — Wells Fargo CEO Charles Scharf is apologizing for comments he made about the difficulty of finding qualified Black executives.

Scharf said in a memo released this week that “there is a very limited pool of black talent to recruit from” in the corporate America.

The comments and similar statements made in a Zoom meeting, reported by Reuters, led to an intense backlash in Washington and on social media.

Scharf on Wednesday said in a prepared statement that his comments reflect “my own unconscious bias.”

“There is no question Wells Fargo has to make meaningful progress to increase diverse representation,” he wrote.

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