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WASHINGTON -He didn't achieve his Presidential dreams, but former Minnesota Governor Tim Pawlenty does have a new gig as President and CEO of an organization thatlobbies forfinancial service companies.

The Financial Services Roundtable says Pawlenty will assume his position as leader of the organizationNovember 1. He takes 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. "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."

To assume the post, the 51-year-old Pawlenty will step down from hisposition as national co-chair of the Mitt Romney a national co-chair of the Romney for President campaign.

"I'm excited about this new challenge," Pawlenty said in a written statement. "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."

Romney publicly offered Pawlenty his best wishes in the new venture."Tim Pawlenty is a dear friend," said Romney. "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."

Pawlenty served as Governor of Minnesota from 2003-2011. Before that hewas a member of the Minnesota House of Representatives from 1993-2003, where he served two terms as Majority Leader.

The Financial Services Roundtable represents 100 integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. The organizationclaims thatRoundtable member companies directly account for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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