- Diversity addressed in business plans
- New executive-mentoring program grooms high-potential candidates
Under Lesley Eckstein's leadership since 2009, the community lending and investment group at Wells Fargo has steered more than $2.1 billion of debt and equity investments to underserved communities. Key innovations by the group include the establishment of a permanent finance option for community development loans, which normally are used as seed money for project development. Hats off also to Kathleen Vaughan, who stoked personal relationships with broker clients to grow the bank's wholesale/brokerage mortgage volume to $33.22 billion in 2010—making it the highest-volume lender in that category.
Diversity-wise, the bank's major improvement in 2010 was to create an executive-mentoring program for "high potential" candidates, requiring each operating and management committee member to take at least one female mentee under his or her wing.
The number of female corporate officers at Wells was unchanged, at 4 of 14 positions.
Deborah (Dee) O'Donnell