Friday, August 31, 2018

Business: All's Still Not Well at Wells Fargo

5.
12
The number of female regional managing directors in Wells Fargo’s wealth-management division, out of 45—up from five three years ago
Discontent at Wells Fargo: The bank has interviewed dozens of women as it investigates complaints of gender bias in its wealth-management division. Investigations across its major business units since a sales-practices scandal two years ago have repeatedly punctured Wells Fargo’s reputation. 
  • Among the complaints is that qualified women have been turned down for top roles that went to men. Some female executives said division head Jay Welker told them women should be home caring for their children. When the women raised concerns, they felt ignored.
     
  • Separately, Wells Fargo fired or suspended more than a dozen employees in its investment bank and is investigating dozens of others over alleged violations of its expense policy regarding after-hours meals.

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