Former Minnesota governor Tim Pawlenty (R) has been tapped as the new head of the Financial Services Roundtable, a major Wall Street lobbying group. He is stepping down as a co-chairman of Mitt Romney's campaign to take the bipartisan job.

“I think this is the sexiest CEO job going around in the association space,” Ivan Adler, of the McCormick Group told The Hill. “If a CEO job for an association can be sexy, this is it.”

According to NBC News' Andrew Rafferty, Pawlenty has been pursuing a private sector gig since dropping out of the presidential race last summer. For months, Pawlenty has doggedly stumped for Romney. He was considered a potential running-mate for the former Massachusetts governor with blue-collar, "Sam's Club" appeal. As a candidate Pawlenty was often a harsh critic of the bank bailouts; he once told Bloomberg that he would tell Wall Street to "get your snout out of the trough just like everybody else."

Pawlenty is replacing former Texas congressman Steve Bartlett, who the Wall Street Journal reports made about $1.8 million in 2010. 

“My time in public service was rewarding and focused on achieving results,” Pawlenty said in a statement. “I am grateful to have had the opportunity to serve, but I am now moving on and committed to focusing fully on this new opportunity.”

In his own statement, Romney called Pawlenty a "dear friend. who "brought energy, intelligence and tireless dedication" to the campaign.