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]
RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
New director David Woodcock puts firms on notice over fees, conflicts, and liquidity risk as private credit shows signs of stress.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
