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.