Carlyle Group Hires Kissinger Consultant as In-House Lobbyist
” … Marchick is vice chairman of Covington’s international trade and finance practice group and is a senior adviser to Kissinger McLarty Associates. … “
Carlyle Group Hires First In-House Lobbyist
By Jeffrey H. Birnbaum
September 19, 2007; Page D02
The Carlyle Group, one of the nation’s largest private-equity firms, is bringing aboard its first in-house lobbyist and regulatory expert as its industry faces growing governmental obstacles, including a possible tax increase.
The District company plans to announce today that it hired David M. Marchick, a partner in the local law firm Covington & Burling, to head global regulatory affairs, according to people familiar with the situation who spoke on condition of anonymity because Carlyle has not announced the appointment.
Marchick, a former Clinton administration official, will advise Carlyle on regulatory issues in the 21 countries in which it operates, including the United States. As a managing director, he will put together a staff that will interact with government agencies around the world on behalf of Carlyle and the companies it owns.
His hiring comes at a busy time in Washington for the company. Less than a year ago, Carlyle and other private-equity firms founded the industry’s first domestic trade association, the Private Equity Council. The council has had to cope with increased scrutiny by lawmakers and regulators.
Private-equity firms, also known as buyout firms, are battling proposals in Congress that would increase taxes on their managers to 35 percent from 15 percent. They and other Wall Street financiers such as hedge funds have also been the subject of inquiries by the Securities and Exchange Commission.
Carlyle has long been considered one of the nation’s most politically connected investment houses. Its advisers have included former president George H.W. Bush and former secretary of state James A. Baker III. Former defense secretary Frank C. Carlucci was a chairman. But none of those big names lobbied for the firm, the company has said.
Marchick is vice chairman of Covington’s international trade and finance practice group and is a senior adviser to Kissinger McLarty Associates.
In the Clinton administration, he worked in the White House and at the State and Commerce departments, according to Covington’s Web site.