WFC Wells Fargo and Company

By Colin Kellaher

Wells Fargo has tapped formed Morgan Stanley executive Thomas Nides to succeed William Daley as head of its sprawling public-affairs group.

Wells Fargo on Friday said Nides, who most recently spent nearly two years as U.S. Ambassador to Israel, is joining the San Francisco bank as vice chairman and a member of its operating committee, reporting to Chief Executive Charlie Scharf.

Wells Fargo earlier this month said Daley, a former chief of staff to former President Barack Obama and trusted lieutenant to Scharf who joined in 2019 as vice chairman of the newly created public-affairs group, plans to retire at the end of the year.

The bank said Nides, in addition to overseeing the public-affairs function, will be a close adviser to senior management on a range of issues, including banking and management.

Nides spent nearly a decade at Morgan Stanley, serving as chief operating officer, managing director and vice chairman, sandwiched around a stint as deputy secretary of state for management and resources in the Obama administration.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 22, 2023 08:33 ET (12:33 GMT)

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