Priscilla Wallace Named Head of Supplier Diversity for Wells Fargo
Wells Fargo & Company announced that Priscilla Wallace has been named head of supplier diversity for the company. Wallace joined Wells Fargo last month and will report to Barb Kubicki-Hicks, chief procurement officer, with a dotted line to Kelley Cornish, head of Diverse Segments, Representation and Inclusion Program Management Office and Enterprise Initiatives. In her new role, Wallace leads a team of supplier diversity professionals to build relationships within the communities Wells Fargo serves through the development, inclusion, and utilization of certified minority, women, LGBTQ, veteran, disability-owned and
Wells Fargo anchors the Black Economic Alliance Foundation’s Entrepreneurs Fund
(BlackPressUSA) — The Black Economic Alliance Foundation (BEA), in collaboration with Wells Fargo, launched the Black Economic Alliance Entrepreneurs Fund (BEA Entrepreneurs Fund) to accelerate the growth of Black entrepreneurs and business owners. The $50 million evergreen fund will provide seed, start-up, and early-stage capital to businesses founded and led by Black entrepreneurs. The launch of the BEA Entrepreneurs Fund is anchored by Wells Fargo with a $20 million commitment over five years to kick-start operations and investments, and to serve as a thought partner to the BEA
Wells Fargo Makes Major Investment in Six Black-Owned Banks
By Stacy M. Brown The banking giant has selected six African American minority depository institutions (MDIs) for equity investments. Broadway Federal Bank in Los Angeles, Carver Federal Savings Bank in New York, Citizens Savings Bank & Trust in Nashville, Commonwealth National Bank in Mobile, Ala., M&F Bank in Durham, N.C., and Optus Bank in Columbia, S.C., are receiving critical equity capital, because of Well Fargo’s generous contribution. The financial commitment structure means that the investments are in the form of critical equity capital, which is foundational to the MDIs’ ability
How Can We Narrow the Black Homeownership Gap?
By Chuck Bishop, Head of Diverse Segments for Wells Fargo Home Lending Despite ongoing challenges due to the pandemic, Black Americans joined the many homebuyers looking for a space to call their own during the past year. But even against that backdrop, the homeownership gap for the Black community remains significant, and concerns remain about the overall effect the pandemic-slowed economy and historic challenges will have on long-term homeownership goals. During Black History Month, and throughout the year, it’s important to acknowledge the challenges the Black community faces when
Despite apology from Wells Fargo CEO, African Americans still face ‘uphill battle’ for respect
by Kaylan Ware On September 23, Wells Fargo CEO Charles Scharf apologized in a letter to his employees for comments made in a June 16 memo titled “Our commitment to change.” “While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of Black talent to recruit from with this specific experience,” Scharf said in the June 16 memo. He also repeated this sentiment during a company Zoom meeting. In the same memo, Scharf proposed to double the number of Black senior leaders
Wells Fargo announces Gigi Dixon as new head of External Relations
NNPA NEWSWIRE—Georgette “Gigi” Dixon has been named Wells Fargo’s new head of External Relations, which is part of the bank’s Government Relations and Public Policy team. Dixon, who currently serves as senior director of External Relations for National Constituents, has been responsible for leading engagement with major national nonprofits, advocacy organizations and other key stakeholders. She’s also a key adviser to executives for diversity and inclusion issues, according to a Wells Fargo press release. “The National Newspaper Publishers Association (NNPA) representing the Black Press of America, especially salutes Wells Fargo