Date uploaded: 2022-04-02 20:00:41
In 2020, Wells Fargo CEO Charles Scharf told staffers “there is a very limited pool of Black talent to recruit from’’ for senior executive roles, sparking an uproar. Since then, several institutions have expanded efforts to diversify their ranks.
Kenny Haywood, a UCLA senior and economics major, is one student among many aspiring to find a place at banks pledging inclusion and equity. As a young Black man trying to be successful in an industry that says it wants to increase equity but remains largely white, he says he is optimistic.
Representation in the financial sector is “especially effective for achieving equity,” according to a September 2020 report from McKinsey & Company and the W.K. Kellogg Foundation, because it “has control over capital and assets that yield outsize power and influence over markets, the business landscape, and entrepreneurship.”
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