Wells Fargo Scraps Diversity Policy for Senior-Level Recruitment

Wells Fargo & Co. is the latest bank to join Wall Street’s retreat from diversity, equity and inclusion efforts as DEI comes under fire from President Donald Trump’s administration.

The San Francisco-based bank is discontinuing a recruitment policy that requires diverse slates of candidates in the first round of interviews for senior-level roles in the US, according to a memo to staff seen by Bloomberg News. Training on diverse slates also will be removed from the recruitment process, according to the memo, distributed to senior leaders this week.

“In light of the current environment, we have decided to discontinue the ...