WASHINGTON - In a push to make its membership match its name, the Financial Services Roundtable on Friday announced that it had added nine companies, primarily insurance and brokerage firms, to its ranks.
The former Bankers Roundtable, which last year changed its name and by-laws to reflect the changing financial services industry, announced that State Farm Mutual Automobile Insurance Co., Jefferson-Pilot Corp., Raymond James Financial Corp., and Credit Suisse First Boston Corp., among others, had been approved as new members by the group's board of directors.
Membership had previously consisted only of banks.
"The new members make the Roundtable more reflective of the industry," said the group's president, Steve Bartlett. "This is a new industry, in which customers demand integrated financial services. And we are a new trade association, built on the strengths of the past but with a new structure and a new membership."
Mr. Bartlett said that in the coming months the group's lobbying efforts will focus on the implementation of financial modernization legislation, the creation of a federal insurance charter, legislation encouraging retirement savings and investment, and other issues.
The new companies will join the group as full members and on the same terms as existing members, Mr. Bartlett said. Other new members are Reliastar Financial Corp., Aegon USA, Associates First Capital Corp., Fortis/Assurant Inc., and the United States Automobile Association.
- Rob Garver