Tim Adams to take over as head of global banking group

NEW YORK Mon Dec 10, 2012 3:50pm EST

NEW YORK (Reuters) - Former U.S. Treasury Department official Tim Adams will take over from Charles Dallara as head of the Institute of International Finance, the international bank lobbying group said on Monday.

Adams, who was an under secretary of the U.S. Treasury for International Affairs from 2005-07, will become managing director on February 1. Dallara has led the IIF since 1993.

The IIF is the world's largest international lobbying group for financial firms, comprising over 450 members worldwide.

Adams currently directs the Lindsey Group, an economic advisory firm in Washington, D.C. He also served as chief of staff to Treasury secretaries Paul O'Neill and John Snow, as well as in the Office of Policy Development in the White House under George H.W. Bush.

Dallara played a major role in negotiating Greece's debt restructuring earlier this year. His likely departure from the IIF was first reported in June.

(Reporting by Gabriel Debenedetti, Editing by G Crosse)