Wells Fargo Names Kristy Fercho as Head of Diverse Segments, Representation and Inclusion

Rhea-AI Summary

Wells Fargo (NYSE: WFC) announced Kristy Fercho as the new head of Diverse Segments, Representation and Inclusion (DSRI), effective immediately. Fercho, who previously led Home Lending since 2020, aims to integrate diversity, equity, and inclusion into all business aspects. This transition follows Kleber Santos's move to CEO of Consumer Lending. Under Fercho's leadership, the DSRI has coordinated DE&I efforts since its launch in 2020, focusing on underserved communities.

CEO Charlie Scharf emphasized the importance of DE&I in driving positive outcomes for employees and communities.

Positive

• Kristy Fercho's appointment enhances leadership in DE&I initiatives.
• Fercho's prior experience as head of Home Lending strengthens her role.
• The DSRI function has already developed products for underserved communities.

Negative

• None.

Fercho has served as the company’s head of Home Lending since 2020

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo (NYSE: WFC) announced today that Kristy Fercho, head of Wells Fargo Home Lending, has been named the company’s new head of Diverse Segments, Representation and Inclusion (DSRI). With her extensive experience running a line of business, Kristy is well-positioned to lead this strategic function by integrating diversity, equity, and inclusion (DE&I) into every aspect of the company’s business and delivering marketplace and workplace outcomes. Since it launched in 2020, the DSRI function has coordinated Wells Fargo’s DE&I efforts across the company – developing products and services to serve customers from underserved communities and driving DE&I initiatives firmwide.

Kristy Fercho, head of Diverse Segments, Representation and Inclusion (Photo: Wells Fargo)

“Our work on diversity, equity, and inclusion is a long-term commitment, and we will continue to advance it under Kristy’s leadership,” said Wells Fargo CEO Charlie Scharf. “Her deep business experience, including her most recent role as head of our Home Lending business, puts her in a unique position to make our DE&I work even more central to how we operate as a company and to drive positive outcomes for our employees and communities.”

Fercho will succeed Kleber Santos, who became CEO of Wells Fargo’s Consumer Lending business in July 2022 after joining the company in 2020 as the company’s head of DSRI. Fercho will remain head of Home Lending while the company conducts a search for her successor, and she will transition to the head of DSRI role fully once her Home Lending successor is named. She will join the company’s Operating Committee effective immediately and will report to CEO Charlie Scharf in her head of DSRI role.

Before joining Wells Fargo, Fercho was at Flagstar Bank, where she served as president of the company’s mortgage division. Prior to joining Flagstar, she spent 15 years with Fannie Mae, where she led the strategy and business performance of single-family customers in the Western United States and served in customer engagement and human resources roles, including as vice president of Human Resources.

Fercho serves on the Board of the Mortgage Bankers Association as Immediate Past Chairwoman and is a member of its Residential Board of Governors. She also leads the Affordable Housing working group for the Office of the Comptroller of the Currency’s Project REACh (Roundtable for Economic Access and Change). In addition, she serves on the boards of the National Urban League, the MBA Opens Doors Foundation, and City Year.

About Wells Fargo

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 a 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. Wells Fargo ranked No. 41 on Fortune’s 2022 rankings of America’s largest corporations. 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.

News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Additional information may be found at www.wellsfargo.com | Twitter: @WellsFargo

News Release Category: WF-LO

View source version on businesswire.com: https://www.businesswire.com/news/home/20221101005397/en/

Media

Cynthia Sugiyama, 415-985-5687

Cynthia.Sugiyama@wellsfargo.com

Investor Relations

John Campbell, 415-396-0523

John.M.Campbell@wellsfargo.com

Source: Wells Fargo & Company

FAQ

Who is the new head of Diverse Segments, Representation and Inclusion at Wells Fargo?

Kristy Fercho has been appointed as the new head of Diverse Segments, Representation and Inclusion (DSRI) at Wells Fargo.

What role did Kristy Fercho have before becoming head of DSRI at Wells Fargo?

Before her new role, Kristy Fercho was the head of Home Lending at Wells Fargo.

When was the DSRI function launched at Wells Fargo?

The Diverse Segments, Representation and Inclusion (DSRI) function was launched in 2020.

What is the main focus of Wells Fargo's DE&I initiatives?

Wells Fargo's DE&I initiatives focus on integrating diversity, equity, and inclusion into all business operations and serving underserved communities.

Who did Kristy Fercho succeed as head of DSRI at Wells Fargo?

Kristy Fercho succeeded Kleber Santos as head of Diverse Segments, Representation and Inclusion at Wells Fargo.