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2 US financial lobbying groups merge

The Clearing House's research unit, The Clearing House Association, is combining with the Financial Services Roundtable to form a new trade group, the organizations said in a press release March 13.

The Financial Services Roundtable, which does advocacy work for U.S. financial services companies, has members from the banking, insurance, asset management, finance and credit card industries.

The Clearing House, meanwhile, is a banking association and payments company with 25 owner banks, including JPMorgan Chase & Co., Toronto-Dominion Bank, UBS Group AG, Deutsche Bank AG and HSBC Holdings PLC. Under it are The Clearing House Association LLC, which focuses on financial regulation research, advocacy and litigation, and The Clearing House Payments Co. LLC, which owns and operates core payments system infrastructure in the U.S.

The Clearing House Association's president, Greg Baer, will be the new trade group's CEO. At the Financial Services Roundtable, CEO Tim Pawlenty is departing; Chris Feeney, technology policy division president, will lead the group until Baer takes the helm.