Morgan Stanley General Manager and Vice Chairman Tom Nides speaks on stage during the 2015 Concordia Summit at Grand Hyatt New York on October 2, 2015 in New York City.

Leigh Vogel | Getty Images

WASHINGTON – President Joe Biden has won Thomas Nides, a veteran diplomat and Wall Street executive, as the next ambassador to Israel, officials familiar with the matter told NBC News.

It wasn’t immediately clear when the White House would announce the appointment.

The White House declined CNBC’s request for comment. Morgan Stanley did not immediately respond to a request for comment.

If this is confirmed by the Senate, Nides, a former assistant secretary of state under President Barack Obama and currently an executive at Morgan Stanley, will have a challenging portfolio waiting for him.

Last week, after 11 days of fighting in Israel and the Gaza Strip, Israel and Hamas agreed a provisional ceasefire, the worst violence since 2014, to ensure that the ceasefire between Israel and Hamas continues. Biden asked the nation’s best diplomats to join the region visit.

State Secretary Antony Blinken traveled to the Middle East on Monday. He will travel to Jerusalem, Ramallah, Cairo and Amman by Thursday and meet with Israeli Prime Minister Benjamin Netanyahu, Palestinian Authority President Mahmoud Abbas, Egyptian President Abdel Fattah Al-Sisi, Jordanian King Abdullah and other senior officials.

Nides, who was expected to hold a position in the Biden administration, is vice chairman of Morgan Stanley, where he focuses on the company’s global clients. He was a staunch financial supporter of several Democrats running for president in 2020, including Biden, according to the impartial Center for Responsive Politics.

Prior to joining Wall Street, Nides was Assistant Secretary of State for Management and Resources, where he was a close advisor to then Secretary of State Hillary Clinton. Those in this position often focus on U.S. foreign aid and overseas diplomatic issues.