©2005 Investment Company Institute. All rights reserved. Information may be abridged and therefore incomplete.
Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice.
[19045]
July 28, 2005
TO: BOARD OF GOVERNORS No. 33-05
ACCOUNTING/TREASURERS COMMITTEE No. 10-05
INTERNATIONAL COMMITTEE No. 16-05
INTERNATIONAL OPERATIONS ADVISORY COMMITTEE No. 18-05
OPERATIONS COMMITTEE No. 16-05
PENSION COMMITTEE No. 27-05
PENSION OPERATIONS ADVISORY COMMITTEE No. 24-05
TAX COMMITTEE No. 25-05
RE: LAW DEPARTMENT REORGANIZATION
I am writing to acquaint you with some organizational changes being made in the
Institute’s Law Department. These changes are designed to respond to the exceptional
demands of the current policy and political environment in Washington, and also to the
guidance we have received from our Board and Executive Committee on staff priorities and
activities.
Proposals for far-reaching reform of the nation’s tax and pension laws are of the highest
interest to our members, who expect that the ICI today will assume a more visible and active
role than we have ever done before. The demands on the Institute have become such that we
clearly require dedicated leadership in the Law Department in each of these arenas.
Accordingly, we are establishing a new position of Senior Counsel – Pension Regulation,
to be held by Mary Podesta. Mary has expertise in both securities and pension matters, and has
previously served at both the SEC and DOL. She has been with ICI since 1994 and has ably led
our international activities.
As Senior Counsel – Tax Law, Keith Lawson will focus on our complex and varied tax
agenda (including all regulatory matters as well as major legislative initiatives like the
GROWTH Act). In addition, Keith will assume a new role as in-house counsel with respect to
our political and lobbying activities generally. Keith’s stature, prior experience and legal
expertise make him the logical choice for this sensitive compliance responsibility.
Bob Grohowski will succeed Mary Podesta as Senior Counsel – International Affairs.
Bob has been at ICI since 1998 and currently serves as Associate Counsel for international
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matters. The Executive Committee recently reviewed and endorsed the Institute’s international
agenda, and I am confident Bob will provide outstanding direction as we pursue our activities
in this area.
Amy Lancellotta, as Senior Counsel – Securities Regulation, will continue to lead the
Institute’s extensive work on federal and state securities law and related financial services
matters. These are and remain issues of core concern to our members and thus to the Law
Department.
Mary, Keith, Bob and Amy will report directly to Elizabeth Krentzman as the Institute’s
General Counsel. The changes are effective immediately.
Paul Schott Stevens
President
Attachment (in .pdf format)