Previous analyses of asymptotic symmetries in QED have shown that the subleading soft photon theorem implies a Ward identity corresponding to a charge generating divergent large gauge transformations on the asymptotic states at null infinity. In this work, we demonstrate that the subleading soft photon theorem is equivalent to a more general Ward identity. The charge corresponding to this Ward identity can be decomposed into an electric piece and a magnetic piece. The electric piece generates the Ward identity that was previously studied, but the magnetic piece is novel, and implies the existence of an additional asymptotic magnetic symmetry in QED.