Former Minnesota governor Tim Pawlenty, one of Mitt Romney's most reliable surrogates, is stepping down as national co-chair of the GOP presidential nominee's campaign and taking a lucrative job on K Street.

On Thursday, the Financial Services Roundtable announced that Pawlenty would be coming on as the Wall Street lobbying group's CEO.

"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."