New York (CNN Business) Wells Fargo CEO Charlie Scharf has apologized after he blamed the lack of diversity at the bank on "a very limited pool of Black talent to recruit from." Wells Fargo WFC "There are many talented diverse individuals working atand throughout the financial services industry and I never meant to imply otherwise," he wrote. And there is no question Wells Fargo has to make meaningful progress to increase diverse representation." In that that memo he said, "We need more diverse representation on our operating committee," referring to the bank's top executives. But he then went on to say "While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of Black talent to recruit from."

Source: CNN September 23, 2020 14:18 UTC