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businessprofile

JOHN LAKE

VICE PRESIDENT AND

LGBT SEGMENT MANAGER
WELLS FARGO

by Matthew Wexler

72

PASSPORT I APRIL 2016

ou have to take a step back to see what diversity really looks like, says John Lake, the
vice president and LGBT segment manager on the Wells Fargo Enterprise (national)
Marketing Diverse Segments team. Its a long job title, but one born out of Wells Fargos
historical commitment to supporting a broad range of diverse populations, way before
it was trendy or part of complex marketing strategies.
Were addressing the financial needs of diverse customers, and thats the foundation that
everything comes from, continues Lake. Im part of a team that looks at different segments
across the country and strategically identifies how we show up for those customers. Wells Fargo
continually strives to gain a better understanding of the financial needs of different segments,
including millennials, people with disabilities, and veterans. But for Lake, a connection to the
LGBT community has been in his professional DNA from the onset.
Timing is everything, and Lakes foray into LGBT marketing came after years of honing his skills
in various industries. Raised in Southern California, Lake studied advertising in college with the
intent of working for big agencies and even bigger clients. Ironically, one of his first jobs out of
school was with a small agency that specialized in toys and childrens products. Although the
annual trips to New York City were a perk, San Francisco beckoned and the opportunity to work
for DDB, the global marketing and communications firm, seemed like a dream. The dot-com bubble eventually burst, but the resilient Lake was ideally positioned to step into the food and beverage industry, working for The Isosceles Group as vice president of client services, specializing in
building brands within the LGBT community, including Beaulieu Vineyard (BV), the longest continually operating winery in Napa Valley.
It was the late 90s and Lake says, We were trying to replicate some of the success of
Absolut and other wine/spirits brands. Before you could advertise, you had to get your own
house in order. Now its often a given, but back then they were big steps that companies had
to take. The Swedish vodka brand had been in the gay marketplace since 1981, advertising in
The Advocate and After Dark, but to Lakes point, after the initial wow factor of being courted
by mainstream brands faded, the LGBT community wanted to ensure that corporate policy
stood behind the enticing ads.
It was a really interesting time to be doing the work, says Lake. Not only was it about figur-

businessprofile
ing out how to get brands out there to the community, but also making tangible connections
with organizations like the Human Rights
Campaign (HRC). Subaru and Absolut were
out there, but the field was pretty open and it
was possible to really make a mark through
sponsorships and advertising.

build a diverse and inclusive organization with

the ability to see the world from multiple perspectives, he has stated. This will help us
advance our business model and strategies,
see and capitalize on new business opportunities, and will determine our long-term success
in the global marketplace.

ake leveraged his experience and accepted a position with HRC as the corporate
development director, a position he held
for eight years as he helped define the benchmarks for corporate participation in the LGBT
marketplace. At that point, companies needed
to look inward before demonstrating outward
support for the community, and it became a real
passion of mine, Lake recollects, including
supporting HRC from an authentic space,
domestic partnership benefits, healthcare for
transgender employees, etc.
There were often times when a company
didnt have the right infrastructure in place to
even look at marketing components, says
Lake. We were there to tailor programs and
help set objectives. Companies have come a
long way. Scoring 100 percent on HRCs
Corporate Equality Index is now the starting
point. Thats where you take off from.
HRC describes the Corporate Equality Index
(CEI) as the national benchmarking tool on corporate policies and practices pertinent to lesbian, gay, bisexual, and transgender employees. The nonprofit has produced 14 editions,
and through the years the evaluation has
become more expansive and rigorous, with the
latest criteria including global codes of conduct,
non-discrimination policies, and new philanthropic guidelines and supplier standards.
Wells Fargo recently received its 13th-consecutive perfect score on the CEI, reflecting its
longstanding commitment to the LGBT community. Back in 1987, the company was a forerunner by adding sexual orientation to its nondiscrimination policy. In todays world, transgender inclusion and gender identity are hot
topics, both in the media as well as corporate
responsibility. These protections require that a
companys US contractors abide by such policies and also prohibit philanthropic giving to
non-religious organizations that have a written
policy of discrimination on the basis of sexual
orientation and gender identity. And while the
tides are shifting, there is still plenty of ground
to cover. The report reveals that only 63 percent of Fortune 500 CEI participants offer
transgender-inclusive benefits.
Wells Fargo Chairman, President, and CEO
John Stumpf views these initiatives as not only
good for the soul, but also good for business.
We view diversity and inclusion as a path to
innovation for our company. We are working to

utting that ideology into action, Wells

Fargo created the Accredited Domestic
Partnership Advisor program in partnership with the College for Financial Planning, in
2010 the first-of-its-kind designation for financial professionals. There were a lot of
workarounds to imitate the financial benefits
and protections of a legal marriage, Lake says
of the time when the program first launched.
There is still a great need for LGBT-specific
personal financial advisement. In so many
parts of the country, [gay] marriage is new, and
with that comes new decisions and challenges. Its important to have some kind of
guidance: an accountant, attorney, or financial
advisor that can discuss the tax impact.
Often times, gay and lesbian couples who
have been together long-term and amassed
their own savings and investments, must navigate the financial implications when they
decide to get married. And now raising children is at the forefront for many couples.
According to the adoption advocacy site
Lifelong Adoptions, approximately 65,000
adopted children are living with a gay or lesbian parent, while an estimated two million
LGBT people are interested in adopting. All of
these factors contribute to an ever-growing
need for financial guidance.
Wells Fargo has also been a key supporter of
LGBT businesses. In 2004, it became the first
financial institution to join the National Gay and
Lesbian Chamber of Commerce (NGLCC), an
organization created to better address the financial and educational needs of LGBT businesses.
Wells Fargo has been with us from the
beginning and their commitment to helping the
LGBT business community is underscored by
their generous annual grants and programs
that foster the development, growth, and sustainability of certified LGBT businesses enterprises, says Justin Nelson, co-founder and
president of the National Gay & Lesbian
Chamber of Commerce (NGLCC). At the
heart of Wells Fargos LGBT initiatives is John
Lake; his advice and guidance is immeasurable. We are so fortunate to have John leading
Wells Fargo's commitment to supporting
diverse chambers of commerce and LGBT
small businesses nationwide.
Beyond his strategic work on behalf of individuals and small business, Lakes most
dynamic role has been his ability to align Wells

Fargo with the countrys leading LGBT nonprofit organizations to create an impact on a
national as well as local level. Wells Fargo has
a presence at more than 50 Pride festivals
across the country, and while major cities like
New York and San Francisco might be expected, its equally important to show solidarity in
smaller markets.
By showing up everywhere we do business, it shows Wells Fargos dedication to
inclusion. Especially in the smaller communities, like Sioux Falls or Winston-Salem, being
visible can help create positive change toward
acceptance for the LGBT community, says
John Stotler, president of PRIDE Team
Member Network. Our team members can
feel strong and empowered at those events
and share the strength of Wells Fargos inclusivity with the community.

ake says another touch point has been

to address bullying of LGBT youths.
Though Wells Fargo had been a longtime
supporter of the Gay, Lesbian & Straight
Education Network (GLSEN), a more specific
initiative was needed to help support the 74
percent of LGBT students who reported being
verbally harassed in the past year according to
GLSENs most recent National School Climate
Survey. Working together, they did what many
thought would be impossible and placed a
Safe Space Kit (including Safe Space stickers,
posters, and GLSENs Guide to Being an Ally
to LGBT Students) in every middle school and
high school across the US.
John is an invaluable liaison between the
non-profit and corporate worlds, having worked
in both. The Wells Fargo partnership has been
hugely important to GLSENs work over the past
six years, helping us reach every single middle
and high school in the country with a GLSEN
Safe Space Kit and supporting the on-going
research into LGBT student experience that
anchors our efforts, among other projects, says
GLSENs Executive Director Dr. Eliza Byard. A
relationship of this scale requires good lines of
communication and reporting. John has taken
on the stewardship of the relationship since joining Wells Fargo, and having someone in that role
who is committed to social impact and who
understands personally how nonprofits work
has been a crucial component of the ongoing
strength of the partnership.
Lake credits the collaborative efforts of
many for these program success stories, and
the fact that their inspiration comes from a
place of compassion and truth. Its been
important for me to make sure that the work is
authentic. In the end, were selling products
and services, but there are right and wrong
ways to do that.
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