Former Minnesota Gov. Tim Pawlenty said Tuesday he is resigning as CEO of the Financial Services Roundtable as speculation grows that he plans to run for governor again.

"FSR is now poised to provide even more focused and effective service for our members going forward," Pawlenty said in a press release. "Over the past 5 years, I have enjoyed leading FSR's efforts to improve cybersecurity, retirement savings, consumer-friendly financial service technology, and financial literacy."

Pawlenty, who ran for president in 2012, is said to be considering running for a third term as governor. Brian McClung, an adviser and top aide, told Fox News last week that Pawlenty "will be talking with Minnesotans over the coming weeks to assess support and gather advice."

Tim Pawlenty
"FSR is now poised to provide even more focused and effective service for our members going forward," Pawlenty said. Bloomberg News

Pawlenty, a Republican, was Minnesota's governor from 2003 to 2011.

During his tenure heading the financial industry lobbying group, Pawlenty led efforts to strengthen cybersecurity, improve financial literacy and create consumer-friendly financial service technology. Last month, it was reported that the Roundtable had moved to reform its membership structure, limiting members to large banks and the large credit card networks.

"Tim will be really missed, but we are thankful for his effective and collegial leadership on behalf of the financial services industry which helps finance America's economy and provide the financial infrastructure that every consumer uses every day," said Brian Moynihan, the CEO of Bank of America, who is also chairman of the Financial Services Roundtable.

Pawlenty plans to step down in March; the Roundtable has not yet named a successor.

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