WASHINGTON -- Members of the Association of Bank Holding Companies voted Friday to approve its merger with the Association of Reserve City Bankers, effective June 30.

Anthony C. Cluff, head of Reserve City since 1980, will be president of the combined association. Thomas L. "Lud" Ashley, recently resigned as head of the holding company association.

Both groups cater to larger banks and have membership overlaps. Reserve City, whose members are top-ranking bank executives, historically has emphasized research and personal networking, while the 85-institution holding company group concentrated on congressional and regulatory lobbying.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.