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Wells Fargo Names Tim Ruby to Lead Healthcare, Higher Education and Not-for-Profit Banking Nationwide

1. Wells Fargo appointed Tim Ruby as executive for Healthcare, Higher Education, and Not-for-Profit. 2. Ruby succeeds Bill Morgan, bringing extensive experience in mission-driven finance. 3. He will manage relationships with nonprofit clients across the nation. 4. Wells Fargo emphasizes commitment to support mission-driven institutions. 5. Ruby’s insights are expected to enhance client relations in critical sectors.

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Why Bullish?

Tim Ruby's experience and leadership can improve Wells Fargo’s client engagement and performance. Historically, leadership changes with strong industry backgrounds often yield positive market reactions.

How important is it?

Tim Ruby's extensive industry experience is likely to enhance Wells Fargo's strategic direction, impacting stock performance positively.

Why Long Term?

Ruby’s focus on specialized sectors can lead to sustained growth, influencing long-term client relationships and profitability.

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- Ruby brings decades of mission-driven finance experience to support Commercial Banking clients across critical social sectors SAN FRANCISCO--(BUSINESS WIRE)--To meet growing demand for specialized solutions, Wells Fargo & Company (NYSE: WFC) today announced the appointment of Tim Ruby as division executive for the Healthcare, Higher Education, and Not-for-Profit division (HHN). Based in Chicago, Ruby reports to Phil Smith, vice chair of Specialized Industries, a business line within Commercial Banking. Ruby succeeds Bill Morgan, who retired after a distinguished 40-year career in financial services. “Tim is stepping into an important leadership role and brings decades of trust and insight that will benefit the clients and communities we serve,” said Smith. “His deep roots in healthcare, education, and nonprofit finance mean our clients get to work with someone who understands their mission and challenges from the inside out.” In his role, Ruby will manage relationships with HHN clients nationwide in the nonprofit hospitals, nonprofit insurers, public and private higher education institutions, and a wide range of nonprofit organizations. HHN is part of Wells Fargo Commercial Banking’s Specialized Industries group, led by Mary Katherine DuBose. In addition to HHN, DuBose oversees the bank’s specialized teams covering clients in the Beverage, Commercial Auto, Commodity, Financial Sponsors, Food & Agribusiness, Franchise, Gaming, Government, Healthcare, Sports, and Technology sectors. Ruby joins Wells Fargo from Bank of America, where he most recently served as market executive for its Midwest Healthcare, Education, and Non-Profit division. There, he led a team of relationship managers across 10 states, supporting health systems, senior living communities, higher education institutions, and nonprofit clients. Before joining Bank of America, he spent three decades at J.P. Morgan Chase and its predecessors in a progression of leadership roles within Commercial Banking, including over 20 years in the healthcare, higher education, and nonprofit sector. A resident of River Forest, Illinois, Ruby earned a B.B.A. from The University of Iowa Trippie College of Business and an MBA from the Northwestern University Kellogg School of Management. He currently serves as treasurer and finance committee chair for Brightpoint, a Chicago-based, prevention-focused family services organization. “Wells Fargo has a longstanding commitment to supporting mission-driven institutions,” said Ruby. “I’m honored to take the lead in helping these organizations achieve their goals and strengthen the communities they serve.” About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune’s 2024 rankings of America’s largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Additional information may be found at www.wellsfargo.com LinkedIn: https://www.linkedin.com/company/wellsfargo News Release Category: WF-LO More News From Wells Fargo & Company

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