Blackstone Hires Thomas Nides for New Vice Chairman Role

Private equity giant Blackstone Inc. has named former Morgan Stanley vice chairman Thomas Nides to the newly created role of vice chairman of strategy and client relations.

The firm announced Monday that Nides will support various strategic company initiatives and special projects, including focusing on senior client relationships worldwide.

Nides, the U.S. ambassador to Israel from 2021 to 2023, was also a deputy secretary of state from 2011 to 2013 under President Barack Obama, after which Nides joined Morgan Stanley as managing director and vice chairman.

“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,” Blackstone Chairman and CEO Stephen Schwarzman 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.”

Prior to being named deputy secretary of state, Nides was Morgan Stanley’s chief operating officer. Before that, he was chief administrative officer at Credit Suisse and senior vice president of human resources at Fannie Mae, according to his LinkedIn profile.

Nides is currently on the boards of the Partnership for Public Service, the International Rescue Committee, the Center for Strategic and International Studies, and the Urban Alliance Foundation.

“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.”

The hiring comes just a few months after Nides left Wells Fargo less than one month after he joined the company.

In September 2023, Wells Fargo announced that Nides would join the company in October as vice chairman and become a member of its operating committee. The bank said he would be a close adviser to senior management on a range of issues, such as banking and management, and help expand client relationships. However, Nides left Wells Fargo before the end of October to “return his attention to events in the Middle East,” according to a company statement, following the outbreak of war in Israel in early October.