Wells Fargo announced Wednesday that former Federal Reserve Board Gov. Elizabeth "Betsy" Duke is joining its board of directors.

Duke served as a member of the Fed's board of governors from 2008 to 2013. Earlier, she worked as an executive at Bank of Tidewater, SouthTrust Bank and Wachovia Bank, all three of which are now part of Wells Fargo, according to the company's news release.

At San Francisco-based Wells, Duke will serve on the board of directors' risk committee. Her tenure with the company is scheduled to begin on Jan. 1.

"I know that she will bring perspectives that are both strategic and practical to the board," Wells Chairman and Chief Executive John Stumpf said in the release.

Duke is not the only Wells Fargo board member with ties to Washington. Other members include Elaine Chao, a former labor secretary under President George W. Bush, and Federico Peña, who held two different Cabinet positions during the Clinton Administration.

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