Wells Fargo & Company (NYSE: WFC) has announced that Priscilla Wallace has been named head of supplier diversity for the company.
Wallace joined Wells Fargo last month and will report to Barb Kubicki-Hicks, chief procurement officer, with a dotted line to Kelley Cornish, head of Diverse Segments, Representation and Inclusion Program Management Office and Enterprise Initiatives.
In her new role, Wallace leads a team of supplier diversity professionals to build relationships within the communities Wells Fargo serves through the development, inclusion, and utilization of certified minority, women, LGBTQ, veteran, disability-owned and small business enterprises. Wallace will implement an integrated approach with strategic sourcing, procurement, and the company’s lines of business to generate increased opportunities for certified diverse suppliers.
“Priscilla joins us at a crucial and transformational time for our brand,” said Cornish. “With her vast experience, she will focus on developing business strategies to ensure a diverse supplier base is represented that will ultimately promote innovation and provide a distinct competitive advantage for our business.”
Wallace brings more than two decades of supply chain and diversity, equity, and inclusion experience to her new position. She joins Wells Fargo from Foodbuy – Compass Group, where she was vice president of supplier diversity since 2016, responsible for accelerating supplier growth across the organization. Prior to joining Compass, Wallace served as vice president of corporate development and executive director for Charlotte Minority Economic Development Initiative. She also spent 13 years in supply chain and diversity leadership roles at the American Red Cross.
Wallace has received numerous accolades during her career. She was recognized in 2020 and 2018 as one of the Top 25 Diversity Women in Power by Diversity Plus, Inc. and on the Top 50 Omni awards for multicultural businesses in 2018 and 2019. She is a graduate of Delta State University.
Wells Fargo’s supplier diversity program is a key part of the company’s commitment to diversity, equity, and inclusion (DE&I). Since 2012, Wells Fargo has spent more than $10 billion with diverse suppliers. Wells Fargo is on track for its eighth consecutive year of spending more than $1 billion with certified diverse suppliers. Through the first half of 2021, the company is spending more than 13% of total controllable spend with diverse suppliers, surpassing the financial services industry average of 10%.
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 the 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. 37 on Fortune’s 2021 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.
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