Former Minnesota Governor Tim Pawlenty will take over as President and Chief Executive Officer of the Financial Services Roundtable later this year, the key Wall Street lobbying group revealed Thursday.
Pawlenty will assume the position on November 1, 2012, taking over for long-time CEO Steve Bartlett, who announced his retirement earlier this year.
Tom Wilson, CEO of Allstate and chairman of the Financial Services Roundtable, said, "Tim's leadership, vision and ability to find common ground make him the right choice to represent the broad membership of The Financial Services Roundtable."
"He is exactly the kind of leader we need to continue to improve our industry's reputation, advocate firm-but-fair regulation and help maintain our global leadership of the financial markets," Wilson added.
Pawlenty made a bid for the Republican presidential nomination but dropped out of the race in August of 2011 and endorsed eventual nominee Mitt Romney.
While Pawlenty went on to become co-chair of Romney's presidential campaign, he is stepping down from the position because the Financial Services Roundtable is a bipartisan organization that does not allow political activity.
Commenting on the news, Romney said. "While I regret he cannot continue as co-chair of my campaign, his new position advancing the integrity of our financial system is vital to the future of our country. I congratulate him on his new position and wish him every success in carrying out his new mission."
by RTT Staff Writer
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