Wells Fargo (NYSE:WFC) announced Thomas R. Nides has resigned as its vice chairman, one month after he joined the company.
Nides joined Wells Fargo after retiring in July as U.S. Ambassador to Israel, a post he had held since 2021. In announcing his departure, Nides said he would be focusing his energies on the war in the Middle East.
“Watching the horrific events unfold in Israel and Gaza these past few weeks have had a profound effect on me, in ways that I could not have imagined,” said Nides in a statement. “While my tenure as Ambassador ended a few short months ago, I now feel an obligation to turn my attention back to the region, and continue to provide whatever assistance I can, outside of an official government role, to help find solutions for the people living there. I intend to work with the UJA Federation in New York, as well as several Middle East organizations, to bring whatever expertise I can, immediately.”
William M. Daley, Wells Fargo’s vice chairman of public affairs until last month, will return to his prior role as the company starts a new search to fill Nides’ position.
“I am wholly supportive of Tom’s decision,” Wells Fargo CEO Charlie Scharf said. “He came to Wells Fargo as a dedicated public servant, and he wants to fully commit his time and energy to urgent global issues during a time of grave need. We are lucky to know Tom and we all thank him for his dedication and willingness to help find solutions in one of the most complicated issues in the world today.”