Vice Chairman Thomas R. Nides to Leave Wells Fargo and William M. Daley to Return to Prior Role
October 27 2023 - 4:36PM
Business Wire
Wells Fargo today announced that its Vice Chairman, Thomas R.
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.
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Facade of a Wells Fargo bank branch in
Manhattan (Photo: Wells Fargo)
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.
Nides said: “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. 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.”
Wells Fargo CEO Charlie Scharf said: “I am wholly supportive of
Tom’s decision. 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.” Scharf continued: “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.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial
services company that has approximately $1.9 trillion in assets,
proudly serves one in three U.S. households and more than 10% of
small businesses in the U.S., and is a leading middle market
banking provider in the U.S. We provide a diversified set of
banking, investment and mortgage products and services, as well as
consumer and commercial finance, through our four reportable
operating segments: Consumer Banking and Lending, Commercial
Banking, Corporate and Investment Banking, and Wealth &
Investment Management. Wells Fargo ranked No. 47 on Fortune’s 2023
rankings of America’s largest corporations. In the communities we
serve, the company focuses its social impact on building a
sustainable, inclusive future for all by supporting housing
affordability, small business growth, financial health, and a
low-carbon economy. News, insights, and perspectives from Wells
Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com
LinkedIn: https://www.linkedin.com/company/wellsfargo
News Release Category: WF-CF
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version on businesswire.com: https://www.businesswire.com/news/home/20231027595708/en/
Media Amy Bonitatibus, 212‑214‑3020
Amy.Bonitatibus@wellsfargo.com
Investor Relations John Campbell, 415-396-0523
john.m.campbell@wellsfargo.com
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