First Dan Mica went and he will soon be followed by Edward Yingling.
American Bankers Association President/CEO Yingling announced today that he will be retiring from his position at the end of the year.
"After 25 years at ABA, I believe this is the best time to create the opportunity for new leadership," Yingling said in a statement. "The conference report on the reform legislation is written, the historic merger of ABA and America's Community Bankers has been successfully completed, and ABA has been restructured to best serve the industry for the future."
Yingling, who has worked for ABA for 25 years and been president/CEO since May 1, 2005, leaves his post at a time when bank lobbyists have had a rough time on Capitol Hill. Because of public anger at the recession and the collapse of key financial institutions, Congress has been especially aggressive in passing legislation to regulate the activities of banks and other financial institutions.
Before running the ABA, Yingling was its top lobbyist.
Following Mica's departure from CUNA at the end of last month, Yingling's departure will represent the second change of top leadership at a major financial services trade association this year.
The ABA has retained the executive recruitment firm of Korn/Ferry to assist in its search for a replacement.