CEO Charlie Scharf Reinforces Commitment to Diversity and Inclusion
Some of you may have seen media stories referencing a comment on diverse talent from my June “Our commitment to change” memo. I apologize for making an insensitive comment reflecting my own unconscious bias. There are many talented diverse individuals working at
Just in the last few months, we have announced and welcomed new diverse senior leaders who have deeply impressive resumes. We hired two members of the Operating Committee:
Over the past several months, I have greatly enjoyed and benefited from many conversations with the Black/African American Connection and other Team Member Network affinity groups. I am committed to continuing to listen and learn and appreciate all of your help in driving meaningful change at our company.
While we have a lot of work to do, I am encouraged by our early progress. In addition to the new senior leader hires, we recently launched a “returnship” program focused on diverse talent who have been out of the workforce for an extended period to support their return to the industry. Additionally we are requiring diverse candidate slates for key roles with compensation of more than
- Reaching out to diverse talent: To help expand our outreach and sourcing opportunities with diverse talent, our University Programs team has been working closely with our Operating Committee leaders to help build engagement with historically Black colleges and universities, or HBCUs, and Hispanic-serving institutions, or HSIs.
- Anti-racism training course: A new live anti-racism training course is being developed — we’ll share more information as details come together.
- Senior leader accountability: Operating Committee leaders have been working with their Diversity & Inclusion consultants and HR business partners to integrate D&I into their business plans and reviews, and each Operating Committee member is an executive sponsor for at least one of our Team Member Networks.
- Executive compensation: As part of the year-end evaluation process, Operating Committee members will be evaluated based upon their progress in improving diverse representation and inclusion in their area of responsibility. These evaluations will have a direct impact on year-end compensation decisions.
This is an important moment in our firm and we will not let it go by without substantive changes. I cannot do this alone, and I am asking for your help. I know we will be judged based on our outcomes. Thank you for all you do for our company.
Beth Richek, 704-374-2545
Vickee Adams, 515-537-3276