The White House in a statement called the Morgan Stanley vice-chairman who served as a deputy secretary of state under former president Barack Obama a "distinguished public servant and business leader."
The announcement comes as “Israel's” new government gets to work after Sunday's dramatic vote in the Knesset that removed Benjamin Netanyahu from power after 12 years as prime minister and catapulted Naftali Bennett to the premiership.
Biden also picked Ken Salazar, a former US senator from Colorado and interior secretary, as his ambassador to Mexico.
He also chose security expert Julianne Smith to represent the United States on the Council of the North Atlantic Treaty Organization [NATO], a key Western bulwark against Russia.
Biden also named his ambassador picks to Sri Lanka, the Gambia, Guinea, Paraguay and Costa Rica.