Wells Fargo has elected James Quigley, CEO emeritus and a retired partner of Deloitte, to the company’s board of directors, effective immediately.

Quigley will serve on the board’s Audit and Examination Committee, and his election increases the size of the company’s board to 15 directors.

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Quigley previously served as CEO of Deloitte Touche Tohmatsu from 2007-11, and as CEO of Deloitte, the US member firm of DTTL, from 2003-07.

Wells Fargo chairman and CEO, John Stumpf, said Jim Quigley is a proven leader and his broad management experience running a prominent global firm, together with his extensive audit, financial reporting, and risk management expertise, makes him an outstanding addition to the board.

Quigley said Wells Fargo has a long history of operating successfully in different and sometimes challenging environments, and he looks forward to working with the other board members and management as Wells Fargo continues its focus on helping its customers succeed financially.

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