Aug 31, 2018

Wells Fargo forced to confront its gender bias

An employee sits inside of a Wells Fargo.

A Wells Fargo bank. Photo: Spencer Platt/Getty Images

Wells Fargo has an equality problem, according to the Wall Street Journal.

The big picture: Only 12 of 45 regional wealth-management directors are women. Frustrations came to a head in June with "the meeting of 12" — when those female executives met for an internal conference and voiced complaints of gender bias and sexism, as well as worked to find solutions on how to move forward. According to the Journal, those recommendations were handed over to division head Jay Welker and head of regional wealth management Tim Traudt about a month ago, and next steps are underway.

Go deeper