To meet growing demand for specialized solutions, Wells Fargo appointed 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,” Smith said. “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 and 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, IL, 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,” Ruby said. “I’m honored to take the lead in helping these organizations achieve their goals and strengthen the communities they serve.”
