The Clearing House Payments Co. LLC has hired Paul Saltzman as its general counsel to succeed Norm Nelson, who has retired.

The New York payments company said Tuesday that Saltzman will also be an executive vice president and the head of its payments trade group, the Clearing House Association. He reports to James D. Aramanda, the company's chief executive.

Saltzman will handle legal and compliance issues related to The Clearing House's payments businesses.

He was previously a managing director and the general counsel of Ellington Management Group LLC, an Old Greenwich, Conn., hedge fund that focuses on mortgage-backed securities. Saltzman also served for nearly a decade as general counsel for the Securities Industry and Financial Markets Association.

"The Clearing House Association is increasingly emerging as the collective voice of large banks," Aramanda said in a press release. Saltzman's background "will be instrumental in elevating the Association's influence with key stakeholders and advancing our advocacy initiatives."