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Thomas Nides, former Vice Chairman of Wells Fargo
Just weeks after being named Vice Chairman of Wells Fargo, the company has announced that Thomas Nides has decided to leave the company to return his attention to events in the Middle East. Nides joined the company in September after retiring in July as U.S. Ambassador to Israel, a post he had held since 2021.
William M. Daley, Wells Fargo’s Vice Chairman of Public Affairs until last month, will return to his prior role, effective immediately. The company will re-start a search for Daley’s replacement in the coming weeks.
Appointed by President Barack Obama, Nides served as Deputy Secretary of State and COO of the U.S. State Department, and was awarded the nation’s highest diplomatic honor by Secretary of State Hillary Clinton for his service to the country.
“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. “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. I’m grateful to Charlie and the management team at Wells Fargo not only for the opportunity they offered me to join the incredible team here, but also for their complete understanding about the decision I have made today. I wish them, and all of you, nothing but great success.”
Nides has extensive experience in finance and public policy. He spent two years as the nation’s top diplomat to Israel before leaving his post this past summer. Prior to his time in Israel, he spent nearly a decade at Morgan Stanley as COO, Managing Director, and Vice Chairman, and serving on the Operating and Management Committees where he focused on the firm’s management, as well as global client relationships.
His time in the private sector began with roles in the investment banking division of Credit Suisse, as well as 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.
“I am wholly supportive of Tom’s decision,” added Wells Fargo CEO Charlie Scharf. “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.”
