Michelle Scales
Michelle Scales joined Wells Fargo & Company in 2000 and is a 22 year veteran of the financial services industry having previously worked for Bank of America and Citigroup. Today Michelle has senior management responsibilities as the director of Wells Fargo’s Enterprise Diverse Segments group; a division that develops and implements business and marketing strategies across Wells Fargo’s lines of business and distribution channels for African-Americans, Asians, Latinos, Women and Lesbian, Gay, Bisexual and Transgender (LGBT) communities. Under Michelle’s leadership since 2005 diverse markets are the largest contributors to Wells Fargo’s double digit customer acquisition and profit growth objectives. As a result of Michelle’s leadership, Wells Fargo has sustained its reputation with the communities in which it operates and serves. Wells Fargo is substantially increasing its resources for staffing, product development, marketing spend, technology infrastructure and national alliance funding – and systematically aligning those resources with its largest business growth opportunity. While at Wells Fargo, Michelle has also served as a business manager in the Consumer Credit Group directing the annual acquisition of home equity, auto and unsecured consumer lending. In 2003 Michelle directly managed the growth of $2BN in loan originations and a P&L of $105MM for unsecured credit and transportation lending products originated through the retail bank channel. In this role, she reversed declining business performance by restructuring loan origination and funding processes (resulting in improved banker/customer satisfaction) and by reinvesting in critical marketing, credit and product fulfillment capabilities to support a growth strategy. Prior to joining Wells Fargo, Michelle distinguished herself in key management roles in commercial banking, real estate lending, risk management, marketing, retail and business banking. Michelle worked for Citigroup from 1989 through 2000 leading the start-up of business banking offices in San Francisco and Los Angeles, culminating in becoming the business banking division manager and senior credit officer California/Nevada managing a portfolio of over $3.5BN and a P&L of over $150MM. As the senior credit officer for the West Coast Citigroup operations, Michelle was responsible for the consumer deposit risk management functions and credit portfolio reviews with Corporate Credit Risk Administration. Michelle piloted and implemented credit scorecards for business credit applications under $1MM, and maintained proactive relationship and risk management strategies for individual credit exposures up to $25MM. The business was credited with the best-in-class proactive risk classification/work-out process, resulting in the lowest credit loss performance concurrent with sustaining a double digit portfolio/revenue growth model. Under her leadership, Michelle successfully transitioned and implemented new sales, high value credit management and compensation structures with the Citibank/Travelers merger. Citigroup proactively sponsored Michelle’s international career aspirations, and offered her senior corporate banking office in United Emirates and the Country Risk Manager for India. Michelle started her banking career with Bank of America in their commercial banking group in San Francisco where she completed the commercial banking trainee program, managed work outs and did a rotation is credit (audit) exam for the commercial and private bank. As part of her on-going leadership in corporate diversity, Michelle is a frequent speaker on Wells Fargo’s corporate and business diversity counsels, and external spokesperson on numerous forums including Diversity, Inc., Time Magazine, American Banker, NAMIC, and BAI. Representing Wells Fargo, Michelle is on the board for the Asian & Pacific Islander American Scholarship Fund (APIASF) that provides scholarships to underprivileged youth attending college and administers the Gates Millennium Scholarship Fund. Michelle is also on the Gay, Lesbian and Straight Education Network board - the leading national education organization focused on ensuring every child learns to respect and accept all people, regardless of sexual orientation or gender identity/expression. Michelle is a founding member on the council for financial services innovation (CFSI) focused on serving and advancing the financial needs of underserved consumers in a fair and responsible manner. A native of Pakistan, Michelle has lived in the Middle East and England prior to immigrating to the United States. She earned a bachelor’s of science in Banking and International Finance from The City University Business School, London. |
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