A new Vice Chairman role has been created. Tom will be a close advisor to Charlie on a range of issues, and is suited for the role as as a former top diplomat, and his financial background.
The winds of change are blowing.
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@1gro+1oJYKn7O -- I agree the Fed has bigger plans for WFC. I would agree. Given the 3 current scandals, I believe divesture could be in order. Perhaps the beginning of the CB mega-merger.
I disagree that Bill D. is more powerful than this new guy Tom Nides . Sometimes these diplomats keep a lot hidden as part of their MO.
Tom has the Hillary/Obama connections.
Tom is the one that protected and instituted the Abraham Accords - one of the few Trump foreign policy/border security policies not Jettison by the Biden administration. Now at the brink of MidEast peace, Tom leaves his post! Why! There is surprisingly little information of Tom's Shabbat Shalom (https://twitter.com/USAmbIsrael/status/1679733085624049667)
I believe he didn't leave this auspicious post to solve some crummy scandals of a badly rated bank.
IMO, Tom Nides was laid off from his position as Ambassador to Israel so that Joe Biden could replace him with Jacob Lew. Why? I guess to protect the petrodollar. It will be interesting to see what comes up as the Senate confirms Jacob Lew. Remember, Joe Biden has been wrong on nearly every major foreign policy and national security issue over the past four decades." This was said by Robert Gates, former Secretary of Defense under President George W. Bush and President Barack Obama,
@1lyq+1oJYKn7O Thought the same thing about why CS brought in Bill D. Bill resume much more powerful than this guy. You don’t get much more powerful ex gov than Bill, look up what gov position he served. He was not successful in accelerating the cap elimination and stopping of new fines. This guy won’t be either. Fed has bigger plans for WFC.
He was brought in to deal with the Gov & the cap. Look up his Wikipedia entry.
Another high-priced hire who will do nothing and earn a big paycheck for it.
With his background he will know all of the shell companies and foundations to pass the money through to grease the necessary political palms.
Nides is from Morgan Stanly and, apparently has the skills to hold a conversation without a handler.
Another minion
I didn’t see a link to submit a question for the Oct 4th town hall but I did send an email question to Corp Communications asking that Charlie address how this hire is any different materially than Bill Dailey and that org. I expect he will say something but while we are laying off left and right it’s disheartening to see another OC level paid employee coming to do what exactly that should have already occurred in the almost 4 years of Charlie’s tenure.
Look further into resume… JPM
At least he isn’t from JPM Chase. Wonder how he got the job not coming from there.
Off with all of their heads. At least a billion a year would be saved
We need a new bag man to drop off briefcases full of cash "contributions" to politicians, right? I mean, with the other guy retiring.
He looks like the replacement for the other skelator that is retiring. Not sure why anyone would think this is chainsaw’s replacement.
If Charlie has his way - Wells Fargo will be 60 Talking Heads executives, each making $10 Million+, and 1 guy making $35,000 doing all the work.
This is exactly what we need. More politics in Wells Fargo. Another government employee that doesn't understand practical application. To quote Joe Biden, (and you have to scream it) " Name me one thing a politician has done well! Name me one!