Doubling Down on Core Values When DEI is Under Attack

Image: ​Bing AI Image generator.  Prompt: Wells Fargo golden carriage with intricate design pulled by 4 horses, racing across the golden gate bridge in San Francisco, celebrated and cheered on by crowds of women and men from diverse backgrounds. 

​Corporate Challenge:  Justifying diversity, equity, and inclusion (DEI) expenses. 
 
Ironbound Strategy:  Powerful brands harness the power of creating holistic value across employees, customers, and society.  Winning market share in a competitive environment requires relentless innovation, that is a product of an environment where diversity of ideas are freely allowed to flourish.  
 
Ironbound Action:  San Francisco based Wells Fargo & Company, founded in 1929, has been helping clients succeed financially for almost a century.  Their success is rooted in core values that focuses on what’s right for the customers, people as competitive advantage; ethics; diversity and inclusion; and leadership.  During fiscal year 2023, the company published its second DEI report, hired their first Chief Accessibility Officer, increased diverse representation, expanded career development and mobility, and continued their commitment to spend with diverse suppliers.  Stakeholder driven businesses understand that competitive organizations win and gain market share by creating an environment where everyone has a fair shot at success.   

​* In 2023,  Revenue was $82.5 Billion, up 11% from 2022, diluted Earnings-per-share was $4.83, up 48% from 2022, and Return on Equity (ROE) was 11%, up from 7.8% in 2022.  
 
** Corporate and Investment Bank revenue grew 26% from 2022 expanding investment banking and trading market shares.