Former Governor Tim Pawlenty Named CEO of The Financial Services Roundtable

WASHINGTON, Sept. 20, 2012 /PRNewswire-USNewswire/ -- The Financial Services Roundtable today named former Minnesota Governor Tim Pawlenty as its new President and Chief Executive Officer, effective November 1, 2012. Pawlenty will take over for long-time CEO Steve Bartlett who announced his retirement earlier this year.

"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," said Tom Wilson, CEO of Allstate and chairman of The Financial Services Roundtable. "As governor of Minnesota, Tim was a highly successful chief executive who created an environment for economic growth and job creation with a common sense and balanced approach to problem solving. He understands that while policy makers sincerely desire to improve economic opportunities for all Americans, they also have different political philosophies.  Tim knows this and is able to create win-win solutions to difficult issues. 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."

"I'm excited about this new challenge," Pawlenty said. "Few industries have more impact on the entire economy – and on the lives of average Americans – than financial services. I realize there is still work to be done to continue to earn customers' confidence. Our members will best accomplish that goal by responsibly investing every day in our communities and job creators. I look forward to working closely with decision makers from both parties on issues related to our nation's banks, insurance companies and investment firms so that they can continue to provide fuel for America's economic engine."

"Tim is an extraordinary choice," outgoing CEO Steve Bartlett said. "He's a strong leader respected for both his integrity and work ethic. He understands how vital our industry is to the economy. Our members have weathered the financial crisis and, now, Tim can help take us to the next level. His efforts to bridge political and policy divides will serve to enhance the reputation of the financial services industry with customers and policy makers."

Pawlenty, 51, served as Governor of Minnesota from 2003-2011 and, before that, was a member of the state's House of Representatives from 1993-2003, where he served two terms as Majority Leader. From 2007–2008, he chaired the bipartisan National Governors Association. In the past two years, he gained prominence by running for the Republican nomination for President of the United States. The Financial Services Roundtable is a bipartisan organization. As a consequence, Gov. Pawlenty will step down as a national co-chair of the Romney for President campaign. "My time in public service was rewarding and focused on achieving results," Pawlenty said. "I am grateful to have had the opportunity to serve, but I am now moving on and committed to focusing fully on this new opportunity."

The Financial Services Roundtable represents 100 integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. Roundtable member companies provide fuel for America's economic engine, accounting directly for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

SOURCE Financial Services Roundtable