Wells Fargo named Doug Braunstein, a JPMorgan veteran, as its vice chair, effective Wednesday, in a push to expand its investment banking business, the company announced Tuesday.

Braunstein will focus on growing Wells’ corporate finance and advisory businesses while offering counsel to the bank’s senior management on broader business issues, the company said. He will report directly to CEO Charlie Scharf.

“Doug is a world-class banker, and he will work alongside the great team we have assembled in Corporate and Investment Banking (CIB) to continue growing it,” Scharf said in a statement. “The addition of Doug’s expertise and business relationships reflects our continued commitment to strengthen CIB even further. In addition, the breadth of Doug’s experience means he’ll be an effective adviser to Wells Fargo’s senior management team on business issues beyond client development.”

Braunstein will take a role held briefly by Thomas Nides, a former diplomat and Morgan Stanley executive. Nides joined Wells as vice chair in October, only to step down weeks later to focus on the ongoing Middle East crisis.

Nides replaced William Daley, who was set to retire at the end of last year. But Daley returned to his former role when Nides left and Wells resumed its vice chair search.

Braunstein spent two decades at JPMorgan Chase, where he held a number of executive management roles, including CFO and vice chair. He also served as head of JPMorgan’s Americas investment banking business.

“I believe that Wells is uniquely positioned in financial services to build and broaden their client-serving lines of business, and I am excited to help grow the franchise,” Braunstein said in a statement Tuesday.  “The company has made a tremendous amount of progress across multiple dimensions over the past five years, and I’m excited to continue to push that work forward.”