Was Wells Fargo’s CEO wrong about the pipeline of Black talent?

Wells Fargo CEO Charlie Scharf had to backpedal last week after Reuters surfaced details of a June memo in which he addressed the shortage of diversity on the company’s operating committee. One had to wonder whether Scharf or his handlers stopped to think about the demoralizing effect a message like that might have on the company’s existing Black workforce. Had Scharf suggested that the operating committee in fact has ample Black talent to choose from, would he not have sounded equally tone deaf (and inexplicably complacent with the industry’s makeup)?