Wells Fargo & Co. (NYSE: WFC) announced Thomas R. Nides will join the company in October as vice chairman, reporting to CEO Charlie Scharf and joining the San Francisco-headquartered company’s operating committee.
In his new role, Nides will advise Wells Fargo senior management on a range of issues, including banking and management, and he will work alongside the company’s business heads. The company’s public affairs function will report to him.
Nides most recently served as the Biden administration’s Ambassador to Israel since 2021. He previously served in the Obama administration as Deputy Secretary of State and Chief Operating Officer of the U.S. State Department. Outside of government, he spent nearly a decade at Morgan Stanley as chief operating officer, managing director and vice chairman, and earlier in his career he was president and CEO of Burson-Marsteller, a global public affairs firm. He began his career in politics, with a variety of roles on Capitol Hill.
“The breadth of Tom’s experience across the public and private sectors will be an important asset to Wells Fargo as we continue to move the company ahead,” said Scharf. “The success of our transformation depends not only on the changes we make inside Wells Fargo, but on how we work with our stakeholders to bring those changes to life. Tom will be instrumental to that work.”
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