Wells Fargo's supplier diversity program is a key part of the company's commitment to diversity, equity, and inclusion (DE&I). We will continue to be there for customers and communities during the COVID-19 pandemic and its aftermath as we work toward an inclusive recovery. She also spent 13 years in supply chain and diversity leadership roles at the American Red Cross. We strive to build and sustain a diverse and inclusive culture for all Wells Fargo employees one where they feel valued and respected for who they are as well as for the skills and experiences they bring to our company. Currently, you are using a shared account. Its number. We have increased the amount of money we spend with suppliers from historically excluded communities and expanded our community reach as we work to support economic empowerment. Wells Fargo is committed to doing the work to ensure we provide our employees with an inclusive and respectful workplace where every career can flourish. Wells Fargo has launched the Banking Inclusion Initiative, a 10-year commitment to accelerate unbanked individuals' access to affordable mainstream accounts and help unbanked communities have easier access to low-cost banking. This program served more than 340 diverse leaders across the business in 2021. ]); Contact Outreach. Since 2012, Wells Fargo has spent more than $10 billion with . targeting: { pos: 'right_rail_3', Supplier Diversity program Challenge Each year, we evaluate our sourcing and procurement spend to identify opportunities to grow or expand relationships with diverse suppliers. Its not a project, its a process. Meeting the increasingly diverse needs of Wells Fargo's global customer base is critical for our company's long-term growth and success. Supplier Diversity Senior Manager We see differences as an asset. Available: https://www.statista.com . News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Business Roundtable members are committed to creating opportunities for people of all backgrounds across America. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. EEO is the Law (PDF) EEO Supplemental Information (PDF) QSR-0822-00221. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo. 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 small business enterprises. She was recognized in 2020 and 2018 as one of the Top 25 Diversity Women in Power by Diversity Plus, Inc. and on the Top 50 Omni awards for multicultural businesses in 2018 and 2019. Derek joined Wells Fargo in 1988. 03 June 2022 Wells Fargo today announced the Wells Fargo Scholarship Fund for Diverse Businesses in collaboration with the Tuck School of Business at Dartmouth. Supplier diversity. Our compensation program is designed to be consistent with our four compensation principles of paying for performance, fostering a risk management culture, attracting and retaining top talent, and encouraging the creation of long-term stockholder value. We provide the following services: - Launching Corporate & MBE Development programs for DEI initiatives. That includes: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran. With her vast experience, she will focus on developing business strategies to ensure a diverse supplier base is represented that will ultimately promote innovation and provide a distinct competitive advantage for our business.. In 2020, Wells Fargo established the Open for Business Fund to provide small business owners with access to capital and resources needed to navigate the ups and downs of the pandemic through a roughly $420 million national small business recovery effort. Our Supply Chain Management function is committed to ensuring supplier diversity is integrated into its strategic sourcing and procurement processes to generate efficiency, innovation, and increased opportunities for diverse suppliers. She reports 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. EEO Supplemental Information (PDF), Environmental, social, and governance (ESG) reporting. You are leaving newsroom.wf.com and entering a website that Wells Fargo does not control. You only have access to basic statistics. About targeting: { Supplier Diversity is engaged/notified of any disputes related to second-tier contract language and defined goals. By advancing diversity, equity and inclusion, CEOs are acting on their responsibility as leaders. window.tude = window.tude || { cmd: [] }; Prior to joining Wells Fargo, she was vice president of supplier diversity since 2016 at Foodbuy - Compass Group. She also spent 13 years in supply chain and diversity leadership roles at the American Red Cross. Were committed to advancing diversity, equity, and inclusion by helping ensure that all people across our workforce, our communities, and our supply chain feel valued and respected and have equal access to resources, services, products, and opportunities to succeed. A Wells Fargo spokesperson said the claims were without merit and that its diversity guidelines have led to "meaningful, positive results." The . tude.refreshAdsViaDivMappings([ { subcat: '', Since 2012, Wells Fargo has spent more than $10 billion with diverse suppliers. Black Enterprise is a black-owned multimedia company. Racial diversity in the total workforce composition of Wells Fargo in the United States from 2019 to 2021 [Graph], Wells Fargo, July 8, 2022. He was past chairperson of the Carolinas Virginia Minority Council, and Financial Services Roundtable for Supplier Diversity and past board member of the Women Business Enterprise Council. Learn more about Wells Fargo, from our rich history to our company facts, investor relations, community involvement, careers, and more. As CEOs of Business Roundtableleaders of companies that support 37 million American jobswe believe it is imperative. 37 on Fortunes 2021 rankings of Americas largest corporations. Subscribe to Newsletter Dollars). Early engagement of Supplier Diversity will start the data gathering process (benchmark data, peer information, and diverse supplier identification). Selecione Cancele para permanecer en esta pgina o Contine para ver nuestra pgina principal en espaol. Prior to joining Compass, Wallace served as vice president of corporate development and executive director for Charlotte Minority Economic Development Initiative. statistic alerts) please log in with your personal account. We're committed to advancing diversity, equity, and inclusion by helping ensure that all people across our workforce, our communities, and our supply chain feel valued and respected and have equal access to resources, services, products, and . Derek Cantey is a Supplier Diversity senior manager for Wells Fargo. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. Were committed to accomplishing this mission by establishing and supporting partnerships with the diverse business community, developing these businesses for growth, and engaging with community organizations that share our commitment. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Wells Fargo & NMSDC Partner to Present Four Minority Business Leadership Academies in 2020 - National Minority Supplier Development Council Skip to content Call Us: +(212) 944-24301359 Broadway, Suite #1000, New York, NY 10018 Home Contact Mailing List DONATE menu About Us Donate To NMSDC 2021 Board of Directors About NMSDC Our Network While we have more work to do, we have taken steps that include creating a new Diverse Segments, Representation and Inclusion organization led by a senior executive who reports directly to the CEO. She is a graduate of Delta State University. Our diversity, equity, and inclusion strategy provides common direction and clear goals across three defined areas: Supplier diversity. Priscilla joins us at a crucial and transformational time for our brand, said Cornish. Wells Fargo is opening pathways to economic opportunity, championing safe and affordable housing, empowering small businesses to thrive, and accelerating a low-carbon future. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. Within our Commercial Banking division, we have established regional diverse segments pod leaders who facilitate a team of banking professionals focused on outreach to underrepresented groups and increasing access to capital to support diverse-owned or diverse-led businesses. The Network Journal is a quarterly print and online business magazine for Black professionals and small business owners. She will implement an integrated approach with strategic sourcing, procurement, and the companys lines of business to generate increased opportunities for certified diverse suppliers. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. In just eight weeks, these entrepreneurs receive the business tools, resources, capital opportunities, and mentorship needed to help expand their businesses. OUR COMMUNITIES 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 small business enterprises. Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment, and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Since the 1970s, its flagship product Black Enterprise magazine has covered African-American businesses with a readership of 3.7 million. Learn more about our approach to diversity, equity, and inclusion, goals, and performance. ERNs are dedicated to helping employees with professional growth and education, community outreach, business development, and customer insight. Wells Fargo & Co Supplier Diversity Program. Supplier Diversity will analyze the category for diverse supplier engagement (first- or second-tier). We plan to work with our lines of business to identify opportunities that may help remove barriers contributing to the wealth gap that still persists in our society. . The Diverse Segments, Representation and Inclusion team is responsible for creating programs that support career mobility and a sustainable talent pipeline to provide career opportunities for underrepresented employees including in our management positions. Diverse business inclusion. Wells Fargo is committed to fair and equitable compensation practices and we regularly review our compensation programs and practices for pay equity. Profit from the additional features of your individual account. Promoting diversity, equity, and inclusion awareness through education and training. Our commitment, We help provide diverse suppliers with a broad range of opportunities to participate. Second-tier suppliers are subcontractors hired by a Wells Fargo contracted supplier (first-tier) to provide products or services under its Wells Fargo contract. Show publisher information Helping to lead that effort is Danielle Squires, head of diverse segments in corporate. Supplier Diversity involvement will support the search and identification of qualified and capable diverse suppliers. env: 'prod', Our commitment Participation requirements We help provide diverse suppliers with a broad range of opportunities to participate. In 2020, we renewed our commitment to diversity, equity, and inclusion (DE&I) at the direction of our CEO. We also want to develop a much deeper understanding of the needs of our diverse customer base so we can better serve and equip them with the products and services they need. We collaborate with organizations that align with diverse supplier identification, certification, development, and engagement. Prior to joining Compass, Wallace served as vice president of corporate development and executive director for Charlotte Minority Economic Development Initiative. Supplier diversity adds value to the organization by ensuring that our supplier base mirrors the customers and communities we serve. div_id: 'div-gpt-ad-rightrail-1', They are a place for employees to connect, leverage, learn, build their skills, and impact business outcomes. - Assisting. Wallace has received numerous career accolades, including recognition in 2020 and 2018 as one of the Top 25 Diversity Women in Power by Diversity Plus, Inc., and Top 50 Omni awards for multicultural businesses in 2018 and 2019. pos: 'right_rail_1', 108 Diversity, equity, and inclusion encompass more than recognizing that our world is more complex than just gender, race, or sexual orientation. Learn more about how Statista can support your business. 323-549-5225, San Fernando Valley Business Journal | Website by Web Publisher PRO, Using Incentives to Capture Greater Diversity, Equity, and Inclusion Gains. Our team reaches out to help us better serve and earn more business from important communities including ethnic minority groups; LGBTQ community; women, members of the military and veterans; and people with disabilities. page_type: 'article', Wells Fargo ranked No. To create accountability and measure progress, diversity, equity, and inclusion metrics are reported in the annual Diversity, Equity & Inclusion Report. Many Business Roundtable member companies are increasing transparency on corporate diversity by voluntarily disclosing their diversity metrics, including hiring and leadership. Diversity, equity and inclusion councils. Wallace will implement an integrated approach with strategic sourcing, procurement, and the companys lines of business to generate increased opportunities for certified diverse suppliers. } Learn more about our Employee Resource Networks here. We integrate diversity into our vendor sourcing process. She also spent 13 years in supply chain and diversity leadership roles at the American Red Cross. Promoting Responsible Shareholder Engagement, A Modern Approach to U.S. Immigration Policy, Smart Regulation for the Innovation Economy, Technology and Innovation Policy Priorities, 54% female; 46% male (2020 global workforce), 55% Caucasian/white; 45% racially/ethnically diverse (2020 U.S. workforce). Use Ask Statista Research Service, U.S. unemployment rate, by ethnicity 2022, U.S. employment rate in 2022, by ethnicity, Racial diversity in the workforce of JPMorgan Chase in the U.S. 2019-2021, To download this statistic in XLS format you need a Statista Account, To download this statistic in PNG format you need a Statista Account, To download this statistic in PDF format you need a Statista Account. You are leaving wellsfargojobs.com and entering a third-party domain. Wells Fargo also offers capital, technical assistance, and long-term recovery support for businesses as they manage the economic effects of the COVID-19 pandemic. - Leading supplier diversity programs to grow Tier I and Tier II spending. }).render('ba25868856a746c68da2b09b1b55bc48'); Wells Fargo. cnx({ We strive for a culture with inclusive policies and programs that attract, develop, engage, and retain the best talent. This award recognizes Wells Fargos work with minority business owners and our commitment to continue to support the growth of minority business enterprises. 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. Here we highlight just some of the ways Americas largest employers are building more diverse, equitable and inclusive work environments. May 2, 2022. Chart. Gender, race, and ethnic diversity have been, and will continue to be, a priority for the Board and its GNC in its director nomination process because the GNC and the Board believe that it is essential that the composition of the Board appropriately reflects the diversity of the Companys employees and the customers and communities they serve. As soon as this statistic is updated, you will immediately be notified via e-mail. We conduct an objective, statistical pay equity analysis annually. Wallace brings more than two decades of supply chain and diversity, equity, and inclusion experience to her new position. You can sign up for additional alert options at any time. Wells Fargo Supplier Diversity was also recognized by DiversityInc for the first time. LRC-0822. We are committed to creating a company where we have diverse representation, perspectives, equity, and inclusion across all areas and levels. Wallace will implement an integrated approach with strategic sourcing, procurement, and the companys lines of business to generate increased opportunities for certified diverse suppliers. ENVIRONMENTAL, SOCIAL, AND GOVERNANCE REPORT. Wells Fargos supplier diversity program is a key part of the companys commitment to diversity, equity, and inclusion (DE&I). In 2018, Wells Fargo spent $1.36 billion with diverse suppliers. Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance for more than 23 million customers through 6,200 stores, more than 6,500 automatic teller machines, the Internet and other distribution channels. We're sorry, but some features of our site require JavaScript. Relevant military experience is considered for veterans and transitioning service men and women. Wells Fargo has steadily increased its annual spending with diverse suppliers from $824 million in 2013 to nearly $1.4 billion in 2020. We strive to leverage our employees differences to anticipate and meet the needs of our customers and communities while tapping into the innovation and creativity that comes from diverse perspectives. Fargo contracted supplier ( first-tier ) to provide products or services under its Wells Fargo does endorse. The COVID-19 pandemic and its aftermath as we work toward an inclusive recovery helping! 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