Leading multinational financial services company Wells Fargo (No. 25 on The DiversityInc Top 50 Companies for Diversity list in 2021) has named Priscilla Wallace as the company’s new head of supplier diversity.
In her new position, Wallace will be tasked with helping to build relationships with certified minority, women, LGBTQ, veteran, disability-owned and other small business enterprises, promoting their development, inclusion and utilization within the company. Like many others working in the field, her goal will be to create an integrated approach to strategic sourcing and procurement, generating increased opportunities for certified diverse suppliers.
“Priscilla joins us at a crucial and transformational time for our brand,” said Kelley Cornish, Head of Diverse Segments, Representation and Inclusion Program Management Office and Enterprise Initiatives at Wells Fargo. “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 has a long history of working within the supply chain and diversity, equity and inclusion arena. Prior to coming to Wells Fargo, she was vice president of supplier diversity at the Foodbuy-Compass Group. She also served as vice president of corporate development and executive director for the Charlotte Minority Economic Development Initiative. Wallace began her career by working more than a decade in supply chain and diversity leadership roles within the American Red Cross.
According to Wells Fargo, “Wallace has received numerous accolades during her career. In 2018 and 2020, she was recognized 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.”
A regular member of the DiversityInc Top 50 Companies for Diversity, Wells Fargo has a long and ongoing commitment to diversity, equity and inclusion, including its work within the area of supplier diversity. According to the company, it has spent more than $10 billion with diverse suppliers since 2012.
“Wells Fargo is on track for its eighth consecutive year of spending more than $1 billion with certified diverse suppliers,” the company said. “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%.”