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Finance Minister Oliver names former banker chief of staff

Daniel Nowlan in a file photo from Oct. 26, 2007.

Tim Fraser/The Globe and Mail

Finance Minister Joe Oliver has hired a long-time investment banker as his chief of staff, tightening the ties between Ottawa and Bay Street.

Mr. Oliver, who took over from Jim Flaherty last month, has brought on Dan Nowlan. Mr. Nowlan was until November the co-head of equity capital markets at the securities division of Canadian Imperial Bank of Commerce. The hiring was announced internally on Tuesday.

Mr. Nowlan has deep ties to the Conservative Party, having worked in Ottawa as a ministerial assistant prior to becoming an investment banker. He is a director of the Manning Centre for Building Democracy, a think tank devoted to building the conservative movement in Canada. He also served as chief financial officer for Tim Hudak in his successful 2009 bid for the leadership of the Ontario Progressive Conservative Party.

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