Wells Fargo 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.

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.”