U.S. Rep. Richard Baker announced Tuesday he will leave Congress after 22 years to become the president and CEO of Managed Funds Association.
Baker will draw on his experience as a long-standing member of the House Financial Services Committee, where he worked with hedge fund associations such as the one he will be joining.
As a senior member of Congress, his departure marks a loss of political clout for Louisiana in Washington.
Baker is a member of the Subcommittee on Water Resources and the Environment, which holds jurisdiction over the U.S . Army Corps of Engineers, an organization engaged in the Hurricane Katrina recovery process.
Megan Bell, Baker’s press secretary, said Baker began considering a job move over the holidays. He will leave office by Feb. 6.
Baker said he looks forward to having more time to spend with his family.
“While this decision was not an easy one, I look forward to this new opportunity,” Baker said.
—-Contact Emily Holden at [email protected].