Congressman Baker likely to head the Managed Fund Association

Richard Baker, a Republican member of the US House of Representatives and a senior member of the House Financial Services Capital Markets Subcommittee, is in final negotiations to become chief executive of the Managed Fund Association (MFA), a Washington DC-based trade group for the hedge fund industry.

On January 4, Baker informed the US House Ethics Committees about the potential conflict of interest and the possibility of his resignation if he takes on the role. Baker has been a Louisiana representative for more than 20 years, and was outspoken in his views against government-sponsored enterprises Fannie Mae and Freddie Mac.

At the MFA, Baker would focus on domestic policy issues, while John Gaine, MFA’s current president, would focus on establishing international sound practice standards.

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