Wells Fargo announced Kristy Fercho, head of Wells Fargo Home Lending, has been named the company’s new head of Diverse Segments, Representation and Inclusion (DSRI). With her extensive experience running a line of business, Fercho is well-positioned to lead this strategic function by integrating diversity, equity, and inclusion (DE&I) into every aspect of the company’s business and delivering marketplace and workplace outcomes. Since it launched in 2020, the DSRI function has coordinated Wells Fargo’s DE&I efforts across the company – developing products and services to serve customers from underserved communities and driving DE&I initiatives firmwide.
“Our work on diversity, equity, and inclusion is a long-term commitment, and we will continue to advance it under Kristy’s leadership,” said Wells Fargo CEO Charlie Scharf. “Her deep business experience, including her most recent role as head of our Home Lending business, puts her in a unique position to make our DE&I work even more central to how we operate as a company and to drive positive outcomes for our employees and communities.”
Fercho will succeed Kleber Santos, who became CEO of Wells Fargo’s Consumer Lending business in July 2022 after joining the company in 2020 as the company’s head of DSRI. Fercho will remain head of Home Lending while the company conducts a search for her successor, and she will transition to the head of DSRI role fully once her Home Lending successor is named. She will join the company’s Operating Committee effective immediately and will report to CEO Charlie Scharf in her head of DSRI role.
Before joining Wells Fargo, Fercho was at Flagstar Bank, where she served as President of the company’s mortgage division. Prior to joining Flagstar, she spent 15 years with Fannie Mae, where she led the strategy and business performance of single-family customers in the Western United States and served in customer engagement and human resources roles, including as vice president of Human Resources.
Fercho serves on the Board of the Mortgage Bankers Association as Immediate Past Chairwoman and is a member of its Residential Board of Governors. She also leads the Affordable Housing working group for the Office of the Comptroller of the Currency’s Project REACh (Roundtable for Economic Access and Change). In addition, she serves on the boards of the National Urban League, the MBA Opens Doors Foundation, and City Year.