Former GOP presidential candidate and Minnesota governor Tim Pawlenty will take the reins of the Financial Services Roundtable, the D.C. group representing the heads of the world’s biggest banks and financial institutions.

Pawlenty, who was considered for the vice president slot on Mitt Romney’s ticket and is co-chair of the Romney campaign , takes the post Nov. 1 on the retirement of Steve Bartlett, a former Republican congressman and Dallas mayor who held the Roundtable post since 1999. Pawlenty is stepping down from the Romney campaign.

Allstate CEO Tom Wilson, who chairs the Roundtable, cited Pawlenty’s ability to find common ground in making the announcement today. “He understands that while policy makers sincerely desire to improve economic opportunities for all Americans, they also have different political philosophies,” said Wilson.

Pawlenty, 51, was governor of Minnesota from 2003-1011 after serving in the state’s house of representatives.

“I realize there is still work to be done to continue to earn customers’ confidence,” Pawlenty said in a statement.

BGR PR works with the Roundtable. Elise Brooks is director of communications.