Wells Fargo has named Kristy Fercho, head of its home lending division, as its head of Diverse Segments, Representation and Inclusion.
Fercho previously served the multinational bank as the head of its home-lending division. In her new role, she will integrate diversity, equity, and inclusion into every aspect of the company’s business and deliver marketplace and workplace outcomes.
In a statement, Wells Fargo CEO Charlie Scharf said Fercho will excel in the new position.
“Our work on diversity, equity, and inclusion is a long-term commitment, and we will continue to advance it under Kristy’s leadership,” Scharf said.
“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, a USC and St. Joseph’s University alumnus, has been with Wells Fargo since 2020. She previously spent 15 years with Fannie Mae in various roles and eight years at Pepsico as director of human resources.
The Diverse Segments, Representation and Inclusion head also serves on the board of the Mortgage Bankers Association and is a member of its residential board of governors. Fercho also serves on the boards of the National Urban League and the MBA Open Doors Foundation.
Fercho will succeed Kleber Santos, who was promoted to CEO of Wells Fargo’s Consumer Lending Business in July. Fercho will remain the head of home lending and will fully transition to her new role once a successor is found.
Wells Fargo has been making a push in diversity efforts after being accused of staging fake job interviews for Black and female candidates; civil rights attorney Ben Crump called out the bank for its discriminatory bank practices. Last month, Wells Fargo donated $800,000 to the 100 Black Men of America, Inc. to expand economic empowerment programming for youth and underserved communities and its members.