Pawlenty Resigns as Romney Campaign Chair, Named Finance CEO

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Former Minnesota governor Tim Pawlenty is no longer considering a bid for U.S. Senate or Minnesota governor in 2014. 

The reason, according to an Associated Press article released this morning: Pawlenty, a South St. Paul son and Eagan resident, has been named CEO of Wall Street lobbying group The Financial Services Roundtable. 

“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, in a prepared statement on the FSR website.

Wilson continued: “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 ... (Pawlenty) 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.”

Pawlenty was quoted in the same statement saying he is "excited about the new challenge" because of the impact of financial services on the lives of Americans and the economy as a whole.

Pawlenty's appointment to FSR also means he will resign as national co-chairman of Mitt Romney’s presidential campaign.