The Financial Services Roundtable (FSR) and The Clearing House Association (TCH Association), a non-partisan advocacy and research arm of The Clearing House, announced this weekend their agreement to combine their activities in the development of a new organization.
TCH Association President Greg Baer will become CEO for the new organization. The new name has not yet been decided, according to reports. He will replace FSR CEO Tim Pawlenty, who announced last month his departure from FSR. Chris Feeney, president of FSR’s technology policy division, will assume interim responsibility for FSR until Baer becomes the CEO.
“FSR is shaping and advancing financial service and technology policies that drive the U.S. economy. These two organizations will be stronger together,” FSR Chairman Brian Moynihan, Bank of America CEO, said. “FSR’s members appreciate Tim’s leadership in transforming and improving the FSR into a highly regarded policy and research engine for America’s leading financial service companies,” Moynihan added.
TCH Association has been a thought leader on key issues in bank regulation so, combined with FSR, the merger will expand the reach of its advocacy.
“Throughout the last decade, The Clearing House Association has served as an effective advocate for the banking industry through our unique approach of applying data-driven analysis, research and thought leadership,” Jim Aramanda, CEO of TCH, said. “It makes sense to combine the capabilities of two organizations focused on the same goals to create a premier financial services trade association, while The Clearing House continues in its mission of payments innovation and operating core payment systems for the banking industry.”
Outgoing FSR CEO Pawlenty said the combination of these two organizations will further advance FSR’s new strategic focus on banking and payment policies.
“Our goal at the TCH Association has been to help shape sound financial services policy with high-quality research and analysis, and I look forward to continuing that work and amplifying its impact, as we form a new organization,” TCH Association President Greg Baer said.