Wells Fargo has reinstated its diverse candidate slate guidelines following a six-week review prompted by reports its hiring managers were conducting fake interviews to satisfy the guidelines.
Over the past six weeks, the bank completed a review of diverse candidate slate hiring approaches and interviewed Wells Fargo recruiters and hiring managers to determine what’s working and what’s not, the company said in a release. The company has also engaged a broader set of employees in listening sessions since mid-May. Use of the revised guidelines will be effective Aug. 19.
Changes include redefining roles covered by the guidelines based on job level, not compensation; a revision of the exception approval process to provide for manager and recruiter review and approval, and ongoing monitoring; and providing updated training for recruiters and managers on the diverse candidate slate guidelines, including how they should be applied throughout the recruiting and hiring process.
[More: Steps to hire diverse talent]
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
