Michael Paese, deputy staff director of the House Financial Services Committee, will become an executive vice president at the Securities Industry and Financial Markets Association on Sept. 15, SIFMA announced yesterday.

In his new post, Paese will oversee the group's legal, governmental, legislative, and advocacy activities on a global basis. He will be based here and will report directly to SIFMA's chief executive officer, T. Timothy Ryan Jr.

Until Sept. 15, when he leaves the committee, Paese will be on leave and will be recused from any matter involving SIFMA, the group said.

Ryan praised Paese's appointment yesterday, saying, "Michael has the right combination of market, legislative and legal experience to advance the policy agendas and business interests of our members. I'm highly confident that Michael's knowledge and skills will make him a tremendous asset to our members as he leads our global advocacy team in its work with policymakers worldwide."

Paese has been deputy staff director of the House Financial Services Committee since March 2007 and has helped direct policy related to securities, banking, insurance, and other financial services issues.

From January 2003 to March 2007, he was at Mercantile Bankshares Corp., which was acquired by the PNC Financial Services Group Inc. At Mercantile, he served as executive vice president, chief administrative officer, chief risk officer, and deputy general counsel.

Paese was senior minority counsel with the financial services committee from June 2001 to December 2002 when the Republicans controlled the House. He worked on domestic and international capital markets issues in that post.

Earlier in his career, Paese worked at J.P. Morgan Chase & Co. in equity capital markets, and at Davis Polk & Wardwell as an attorneyin that firm's financial institutions practice.

Paese holds a bachelor's degree from Notre Dame and a law degree from Notre Dame Law School.

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