Daley comes from a wide-ranging background in both the public and private sectors and served as chief of Staff to President Barack Obama and Secretary of Commerce in the Clinton administration. He also served as BNY Mellon vice chairman and was a member of its executive committee. He was also a member of the executive committee at JPMorgan Chase and was president of SBC Communications (now AT&T).
He will serve on the operating committee and report to Wells Fargo CEO Charles Scharf.
“I have known Bill and worked with him for many years and know we will benefit from his unique background,” Scharf said. “My experience with Bill is that he does not think like a banker. He is a strong voice who brings perspectives from the public sector that we in business do not generally have but are critical for us as we make decisions.”
He added that Daley’s role makes an assertion that the bank seeks varied viewpoints on its operating committee and that “… we will think more broadly about our stakeholders as we move forward.”
Daley will oversee a global team of over 780 people and will be responsible for corporate communications; government relations and public policy; sustainability and corporate responsibility; and corporate philanthropy and community relations.
“I am excited to be able to help with Wells Fargo’s continued transformation and to help shape the bank’s relationship with its customers, regulators and the U.S. public,” Daley said. “I look forward to working with a talented executive team to make the new vision for the bank a reality.”
Wells Fargo also named new executives and advisors to its team in July. David Kowach was named head of community banking; Jim Hays was appointed president and head of Wells Fargo Advisors; Andy Rowe was hired as the enterprise customer excellence executive; and Elli Dai was named small business and personal lending group executive.