Baker to Leave Congress For Hedge-Fund Group

Date: Wednesday, January 16, 2008
Author: Sarah Lueck, The Wall Street Journal

WASHINGTON -- The hedge-fund industry, under siege in Congress, snagged a high-profile advocate: Rep. Richard Baker, a top Republican on the House Financial Services Committee.

Mr. Baker said he will resign from Congress by Feb. 6 to become the president and chief executive of the Managed Funds Association, the main trade association representing hedge funds. Mr. Baker has represented his Baton Rouge, La., district since 1987.