Wells Fargo & Company announced that Tim Ruby has been appointed division executive for healthcare, higher education, and not-for-profit banking across the country. Ruby, who will be based in Chicago, will report to Phil Smith, vice chair of Specialized Industries in Commercial Banking. He replaces Bill Morgan, who retired after a 40-year career in financial services.

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“Tim is entering a significant leadership position and possesses decades of trust and acumen that will serve our clients and communities we serve well,” stated Phil Smith. “His extensive roots in healthcare, education, and nonprofit finance ensure our clients have the pleasure of working with someone who gets their mission and challenges inside and out.” In this new position, Ruby will lead relationships with nonprofit hospitals, nonprofit insurers, public and private educational institutions, and other types of nonprofit organizations nationwide. He comes to Wells Fargo from serving as market executive for Midwest Healthcare, Education, and Non-Profit at Bank of America, where he managed teams in a ten-state region serving health systems, senior living communities, higher education, and nonprofit organizations.

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“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.”

Previously, he spent more than 30 years at J.P. Morgan Chase working in progressive positions related to healthcare, education, and nonprofits. Ruby earned a B.B.A. from the University of Iowa’s Tippie College of Business and an MBA from Northwestern University’s Kellogg School of Management. He lives in River Forest, Illinois, and also serves as treasurer and chair of the finance committee for Brightpoint, a Chicago-based family services nonprofit.

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