Wells Fargo's David Miree on Creating More Fairness in Banking
by Alexander K. Adkins	| Posted on August 26, 2021 December 19, 2021
David Miree of Wells Fargo and Rashaad Labmbert of For (bes) the Culture.
Provided by For (bes) la Culture
David Miree, Head of Consumer and Small Business Customer Segments at Wells Fargo, sat down virtually to chat with For (bes) the Culture to discuss diversity and inclusion within the U.S. banking system.
White frames represent 92.6% of Fortune 500 CEOs. Miree, who is part of the 1% Black Leaders, says changing the rules of the game so more people of color can take on leadership roles in business is a personal responsibility of all races.
"Well, first of all, these statistics are correct. There is a lack of diversity at the executive level in the United States and in the banking industry in general. So there is therefore a huge opportunity for change, "explained Miree. To be one of the few is, I say, a recognition that there is still a lot of work to be done. I tend not to really focus on when I walk into a room; there may be an absence of what I believe, of what full representation should be in some cases. But, really spending time trying to figure out how to progress and propel others to where they want to be, need to be, and can be. And therefore, it is a personal responsibility that should be given to every leader, to every executive. And quite frankly, whether they're black or some other race to start making that change and making that change.
Miree says Wells Fargo is also doing its part to fight racial prejudice within the banking industry.
"It's easy to say the training solution. Now the training has to be there. You need to have training to help start conversations and to help really try to change people's thinking about mindset and perspective. But it will be a game-changer for some who will have the desire to dig and learn and maybe deal with some of their personal misconceptions about others. But this is only one measure, one way. You have to have a much more in-depth way of measuring success and what those results are. And it's having detailed processes, programs, and initiatives that you can measure to understand what the results of those initiatives are. Do they wake up and really make a difference. And how does that change the dynamic you see today in terms of percentages of leaders at the highest levels of an organization.
" That's what we did [at Wells Fargo]. We have been very deliberate in putting actions behind what we say. So we can really show ourselves and hold ourselves accountable for our commitments by measuring what those results are. "
Miree says Wells Fargo strives to promote diversity and inclusion within its business in "many ways," starting with delivering on its promises to build equity and create more opportunities for small businesses and businesses. the details.
"The commitments we made to minority depositories, historically black colleges and universities. We pledged $ 50 million to the 13 MBIs, and we have fulfilled that capital commitment to them. But it didn't stop there. We went on to say, "How can we better serve them? How can we help them in their strategic thinking by bringing some of our expertise to the table to work in partnership and share best practices that can potentially integrate these NBIs. So it's not just the capital injection, which, you know what's great to do because everyone else does that. But, how do you really ensure their sustainability so that they are able to more effectively support the communities in which they serve, the voters who live there. The blacks and browns they are really trying to take forward in small businesses and individuals, and that's the work we continue to do today. This is the critical piece.
You can check out Miree's full interview with For (bes) the Culture here.
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