Here’s How Stakeholder Advisory Council Launch Might Help Boost Wells Fargo

Amid vast changes in the finance world, Wells Fargo & Company has launched a stakeholder advisory council. The company said the group was formed to contribute insight as well as feedback to the team’s board of directors and senior management members.

A spokesperson for Wells & Fargo said that the council, offering a key stakeholder perspective, will concentrate on the deepening of the company’s “understanding of important current and emerging issues relevant to the company and its stakeholders, including serving the financial needs of underserved communities, diversity and social inclusion, and environmental sustainability.”

Elizabeth “Betsy” Duke, vice chair of the board (to become its chair as of January 1, 2018), weighed in on the importance of the council’s creation. “The formation of the stakeholder advisory council is part of our commitment to continued engagement with our stakeholders to obtain their feedback,” she said.

Duke explained that the council’s members include representatives of stakeholder groups which are especially significant to the company, pointing out environmental, human rights, and civil rights groups as just a few examples.

“It is important that the top leadership of our company hears directly from our stakeholders, and we look forward to benefiting from the council’s diverse perspectives and experiences, particularly with respect to our commitment to our customers and communities,” she said.

Duke is to lead the council, with the participation of president and CEO of Wells Fargo Tim Sloan. “We see the council as an extension of our regular engagement with stakeholders to ensure that we gain a strong understanding of what they expect of us and are taking those concerns and feedback into account,” said Sloan. “The council’s insight and input will be instrumental in our efforts to maximize our ability to make a positive impact on customers and communities as we build a better Wells Fargo.”

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