The Investment Company Institute (ICI), the influential industry group for the U.S. mutual fund industry, recently hired Daniel Crowley to the newly created post of chief government affairs officer. Crowley, who has deep ties to prominent Republicans, officially starts June 16, 2003.

The new hire will lead a team of professionals, three legislative representatives, to represent the Institute's views and policies to the various channels of the U.S. government. He will report jointly to ICI President Matthew P. Fink and Julie Domenick, executive vice president.

"Dan's knowledge of securities market issues and his significant Capitol Hill experience will help foster a partnership between ICI and key government leaders that is vital to restoring investor confidence in our markets," said Fink, in a prepared release.

"Dan's leadership skills will be invaluable as he directs the Institute's government affairs team," said Domenick, in the release. "Dan will lead a talented group of dedicated professionals and we are delighted that he will join us in this key position."

Meanwhile, a recent article on the Washington Post points out that Crowley's hiring follows published reports earlier this year that cited congressional and industry sources as saying that Michael Oxley, House Financial Services Committee chair, and members of his staff were putting the squeeze on the ICI to replace Julie Domenick, who has ties to Democrats, with a Republican or hire a Republican to work with her.

At the time, the article notes, Oxley was investigating whether mutual funds overcharge customers and provide enough information to investors.

Most recently, Crowley was vice president and managing director of the Office of Government Relations of the NASDAQ Stock Market. At NASDAQ, he oversaw the recapitalization and approval of its next generation trading system, SuperMontage.

Before joining NASDAQ, Crowley served as General Counsel to former Speaker of the House Newt Gingrich. Prior to his appointment by the Speaker in March 1998, Crowley was general counsel to the House of Representatives Committee on House Oversight, where he was responsible for supervising its legal team, drafting legislation and advising members on a wide range of legal issues.

Moreover, in March of last year, Crowley was appointed by President Bush to the President's Advisory Committee on the Arts (PACA) for the John F. Kennedy Center for the Performing Arts; he currently serves on the PACA executive and finance committees. 

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