PE recruiting on pause — Wells CEO's history of hiring — Accenture's outlook
New US jobless claims are back on the rise again. The latest report (870,000) was above the consensus economist estimate (840,000). However, the aggregate sum of Americans receiving unemployment benefits is still down from the previous period.
Here's a fun one out of Reed Alexander and Casey Sullivan.
Reed and Casey have all the details on what led to the timeout.
How Wells Fargo CEO Charlie Scharf, who's under fire for his 'limited' Black talent remark, filled the bank's top ranks with white men from his JPMorgan days
I've talked a lot about the comments from Charlie Scharf, Wells Fargo's CEO, on recruiting and hiring Black talent. Here's a great analysis piece from Rebecca Ungarino detailing how since Scharf arrived at Wells in October 2019 he has had a chance to reshape senior management, filling eight executive positions during his tenure. In the end, the majority of new hires to his senior leadership team have been white men he worked with at JPMorgan. Read the entire story here.
Accenture execs say that the firm's consulting and strategy work should bounce back from a pandemic-induced slump within a year
Consultants have been hit hard by the coronavirus, as companies impacted by the pandemic have cut budgets that could be allocated toward their services. Samantha Stokes has the latest from Accenture's earnings call on what the road ahead looks like. Read more here.
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