The Clearing House Association president to lead new group formed from merger

Baer

Greg Baer, president of The Clearing House Association, will become CEO of a new organization formed from the merger of his group with Financial Services Roundtable, both associations announced Tuesday. The name for the new group has yet to be announced.

Baer will step in following the departure FSR CEO Tim Pawlenty, who is reportedly exploring a possible bid for his old job as Minnesota governor. Chris Feeney, president of FSR's technology policy division, will assume interim responsibility for FSR until Baer becomes CEO.

The $21 million-revenue TCH Association is part of The Clearing House, a broader entity, which consists of the association and a payments company. The association will combine with the $21 million-revenue FSR after the merger but the payments company will remain independent.

"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 and Bank of America CEO Brian Moynihan said in a statement.

Baer joined TCH Association in 2015 from JPMorgan Chase, where he was managing director and head of regulatory policy. He previously was deputy counsel for corporate law at Bank of America and a partner with law firm WilmerHale. He has a law degree from Harvard University.

"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," said TCH Association President Greg Baer.

FSR reported 88 staff on its most recent tax filings while TCH Association reported 24. The groups did not immediately say what the merger would mean for staffing.

Pawlenty earned $2.7 million in compensation in 2016 while Baer earned more than $1.2 million the same year, according to tax records.

Story will be updated as additional details become available.