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Congressman-Elect Delaney Leaves CapitalSource, Named to Banking Panel

CapitalSource (CSE) in Los Angeles said that John Delaney, who was elected to Congress last month, is stepping down as its chairman.

CapitalSource said Thursday that Delaney, who founded the $8.7 billion-asset commercial finance company in 2000, had resigned, effective immediately. William Bynes, a CapitalSource director, succeeded Delaney.

Separately, Rep. Nancy Pelosi, the Democratic leader, announced Thursday that Delaney will serve on the House Financial Services Committee in the 113th Congress.

Delaney said in a news release his areas of interest include helping to "stabilize the housing market and shape the future of housing finance" and working "to create a large scale public-private partnership funding enterprise to rebuild our nation's infrastructure."

Delaney, a political newcomer from Potomac, Md., took a leave of absence from CapitalSource to run for Congress. He is expected to be sworn in on Jan. 3.




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