Kristy Fercho has been named Well Fargo’s new head of Diverse Segments, Representation, and Inclusion, the bank announced in a press release.
She is succeeding Kleber Santos, who is transitioning to CEO of the bank’s Consumer Lending Business.
Fercho is being promoted from her position as head of Wells Fargo Home Lending. In her new position, she will integrate diversity, equity, and inclusion into the various aspects of Well Fargo’s business, and deliver marketplace and workplace outcomes.
“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 remain at the helm of Home Lending as her successor is hired, and will move fully to her new position at that time. She will, however, immediately join the company’s Operating Committee and report to CEO Charlie Scharf.
Fercho’s previous experience includes being president of Flagstar Bank’s mortgage division and 15 years at Fannie Mae in various roles.
She serves on the Board of the Mortgage Bankers Association as Immediate Past Chairwoman and is a member of its Residential Board of Governors.
Fercho is also on the Boards of the National Urban League, the MBA Opens Doors Foundation, and City Year, as well as head of the Affordable Housing working group for the OCC’s Project REACH.