Clearing House Names Davis, Moynihan to Board Leadership

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) 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.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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