James Brown, one of Pennsylvania's most influential state officials for th past seven years, has decided to join the private sector as a managing director at an investment management firm.
Brown has occupied several senior positions in the administration of Gov. Robert Casey. Last Friday, Brown left his post as the governor's chief of staff to take a job with CIP Capital Management Inc. of Malvern, Pa. Brown served as Casey's chief of staff since January 1989.
Brown also served as state secretary of general services when Casey took office in January 1987, and was later named executive secretary to the governor.
Before he worked for Casey, Brown was an attorney at the Philadelphia law firm of Dilworth, Paxson, Kalish & Kauffman, which specializes in municipal bonds.
A spokesman for the governor said he could not elaborate on Brown's role at CIP Capital Management. Brown could not be reached for comment.
The spokesman, Vincent P. Carocci, said CIP has "never done any business with the state."
However, the firm employs several other state officials in addition to Brown. The chairman of the firm, Winston J. Churchill, served on the board of trustees for the Pennsylvania public school employees' pension fund from 1990 to 1993. The fund has about $25 billion under management. In addition, a managing director at CIP, G. Davis Greene Jr., served as Pennsylvania treasurer from 1987 to 1989. Executives at CIP Capital Management did not return telephone calls. Pennsylvania law prohibited Casey, a Democrat, from seeking a third term. In November, voters elected Tom Ridge, a Republican state representative, over Lieut. Gov. Mark Singel. Ridge takes office in January.
As chief of staff, Brown was involved in developing state bond issues, including a controversial 1993 certificate of participation issue for prisons totaling about $750 million.
Earlier this year, The Bond Buyer reported that the Internal Revenue Service and the Securities and Exchange Commission are examining the issue.
