Wells Fargo & Co WFC.N Chief Executive Officer Charles Scharf on Wednesday apologized for making insensitive remarks around race and diversity at the bank, seeking to quell a row over his references to a shortage of talent among minority groups. [...]
Scharf listed a handful of appointments the bank has made recently as evidence of its commitment to diversity and went on to lay out details of the steps it was taking to recruit more from minorities.
As the head of the largest U.S. bank by number of employees, he has pledged to double the number of Black leaders over five years and tied executive compensation to reaching diversity goals.
This doesn't help the average Black employee at Wells Fargo as every sensible person who meets one will immediately think, "Is this guy competent or a diversity hire?" Customers will think, "I want to talk to a White or Asian rep. since they're not mediocrities."
Rejecting competent Whites and Asians to hire dumb coloreds guarantees conflict.