The former US ambassador to Israel will start at Wells Fargo next month and report to Chief Executive Officer Charlie Scharf, according to a memo to employees Friday. He’ll advise Scharf and work with division heads “to expand relationships with our most important clients,” as well as oversee the firm’s public affairs division.
“The breadth of Tom’s experience across the public and private sectors will be an important asset to us as we continue to move the company ahead,” Scharf wrote in the memo. “Tom has managed large institutions, interacted with countless government officials, developed critical relationships with key business leaders and community groups, and seen success at every level of our business.”
He had been a chief of staff on Capitol Hill and a Fannie Mae executive before joining Morgan Stanley in 1996, leaving the Wall Street bank a year later to return to Fannie. He went back to the bank in 2005 as a top aide to then-CEO John Mack, left to become Hillary Clinton’s deputy secretary of state and again went back to Morgan Stanley before becoming the US ambassador to Israel.
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