The Clearing House, the 159-year-old banking association and payments firm owned by commercial lenders, named U.S. Bancorp Chief Executive Officer Richard Davis the next chairman of its supervisory board.
Bank of America Corp. (BAC:US) CEO Brian T. Moynihan was selected to be vice chairman, the association said today in a statement.
The Clearing House is a non-partisan advocacy group representing the interests of its owner banks, according to the organization’s website. It also runs a payments company that provides clearing and settlement services to its member firms, which include Deutsche Bank AG, Wells Fargo & Co. and JPMorgan Chase & Co.
“The Clearing House has been consistent and unfailing in its role of providing a non-partisan forum for prudent banking policy and serving as an innovator in the world of payments,” Davis said today in the statement.
James Strother, general counsel of San Francisco-based Wells Fargo, was named chairman of the Clearing House Association board, and John Finneran, general counsel of Capital One Financial Corp., its vice chairman.
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