At Wells Fargo, Discontent Simmers Among Female Executives

About a dozen in Wells Fargo & Co.’s wealth-management division gathered in Scottsdale, Ariz., in June after an internal conference. They’d had enough.

Women should be at home taking care of their children, some of the executives said they had been told over the years by Jay Welker, president of Wells Fargo’s private bank and head of the wealth-management division since 2003. Qualified women had recently been turned down for several top roles that went to male applicants. When the women raised concerns,…

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