Thomas Nides, a former Morgan Stanley and Wells Fargo executive, has joined Blackstone as its vice chairman of strategy and client relations as the alternative asset manager expands its global footprint, the company announced Monday.
Nides will support a wide range of strategic initiatives and special projects across the firm and focus on senior client relationships worldwide, the statement said.
“Blackstone’s world-class people, consistent outperformance, and high-integrity culture have contributed to its stature as a leading global investment platform with considerable wind at its back,” Nides said in a statement. “I’m excited to join this high-caliber team to help support the firm’s continued growth.”
Nides retired as the U.S. ambassador to Israel in July, a post he held since 2021. He joined Wells Fargo as vice chairman in October but left a few weeks later to focus his attention on the ongoing crisis in the Middle East, he 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,” Nides said in October. The announcement that Nides would join Wells came days before the current conflict in Gaza arose Oct. 7.
“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,” Nides said upon leaving Wells.
William Daley remains in his role as vice chairman at Wells, according to the company’s website. Nides was intended to replace Daley, who would have retired at the end of 2023.
Nides joins Blackstone as the investment behemoth’s assets under management surpass $1 trillion.
The firm has been without a vice chairman since Hamilton “Tony” James retired in 2021, The Wall Street Journal reported. James served as the firm’s chief operating officer and president for several years before transitioning to executive vice chairman in 2018 and letting Jonathan Gray take over the leadership reins.
“We are delighted to welcome Tom Nides to Blackstone. Tom has operated at the highest levels of both the public and private sectors and brings a wealth of relationships across the financial, government and geographic spectrum,” Stephen Schwarzman, co-founder and CEO of Blackstone, said in a statement. “We are still in the early innings of our global expansion and believe he will be a tremendous asset to our people and clients.”
Before joining Morgan Stanley in 2005 as its chief operating officer, Nides served as Credit Suisse’s chief administrative officer for three years.
The Obama administration in 2011 appointed Nides as deputy secretary of state for management and resources. He returned to Morgan Stanley as vice chairman before being nominated by President Joe Biden for the Israel ambassador post in 2021.
