Leslie A. Woolley will resign next week as special adviser to the chairman of the Federal Deposit Insurance Corp. to become the chief lobbyist for the Investment Company Institute.
As vice president of legislative affairs for the trade group, she and her eight-member team will represent the nation's nearly 7,000 mutual funds on Capitol Hill.
Ms. Woolley said she took the job because retirement and tax issues associated with mutual funds will be hot political concerns in coming years. "So many of the baby boomers have money in mutual funds that everyone cares about what happens to the mutual fund industry," she said.
Ms. Woolley was the FDIC's lobbying and policy boss under former FDIC Chairman Ricki Helfer, but acting Chairman Andrew C. Hove Jr. tried to oust her immediately after taking the agency's reins in June. She was stripped of her principal duties after the four-member board deadlocked on firing her.
Ms. Woolley was a candidate for FDIC chairman, but the White House is expected to nominate Hawaiian banking lawyer Donna A. Tanoue imminently.