VOL. 51, NO. 56 MONDAY, JANUARY 30,...

“Porterfield & LowenthalLLC” might sound like aname that has the patina of

old age, but the firm has yet to open itsdoors. That is set to happen this week,when Lendell Porterfield and AndrewLowenthal officially leave the lobbyingfirm Van Scoyoc Associates and start outon their own.

The two financial services veteransfrom opposite sides of the aisle arelaunching their in-house partnership tocreate a new lobbying powerhouse forWall Street interests.

The duo expects to keep the bulk oftheir business from the old firm. Whilethose deals are still being inked, theycould be a major haul. Contracts with

NASDAQ, the American BankersAssociation and Prudential Financialhelped the pair pull in $1.6 million forthe Van Scoyoc in 2004, according toPoliticalMoneyLine.com.

“We want to be one of the premierfinancial services firms in town, but wedon’t want to be rock stars. The clientscome first,” Porterfield said.

An open question is what will happento the financial services practice at VanScoyoc. The firm, consistently rankedthe fourth largest in the city by revenue,is widely known for its appropriationswork. But President Stewart Van Scoyocmoved to diversify the shop in 2001 byhiring Porterfield to court the financialgiants that used to plead their case before

VOL. 51, NO. 56 MONDAY, JANUARY 30, 2006

Proof ThatOpposites

AttractBy Tory Newmyer

ROLL CALL STAFF

Andrew Lowenthal (left) and Lendell Porterfield are leaving the lobbying firm Van ScoyocAssociates to launch a new firm, Porterfield & Lowenthal, which will specialize in financialservices work. Lowenthal, the Democrat,

comes from a Wall Streetfamily, was reared inthe New York suburbsand is an Ivy Leaguegraduate. Porterfield,the Republican, comesfrom small-townTennessee, went to collegein the South and gothis first D.C. exposureas a Heritage FoundationIntern.

him on the Senate Banking Committee,where he was a top aide. Porterfield hiredLowenthal two years later, and the twobuilt a strong portfolio they are now work-ing to lure to the new venture.

Van Scoyoc did not return phone callsfor this story.

But their partnership predates theirwork at Van Scoyoc. The two were intro-duced in 1996 when both were workingon the Senate Banking Committee, acrossthe partisan divide. Porterfield was work-ing for Sen. Richard Shelby (R-Ala.) asstaff director of the subcommittee onfinancial institutions; Lowenthal wasworking for Sen. Chris Dodd (D-Conn.)as the minority staff director of the sub-committee on securities and investment.

The panel at the time was mired in try-ing to pass the Financial Services Modern-

ization Act, a measure so long in the worksit became famous for sending countlesslobbyists’ children to college. Porterfieldand Lowenthal’s bosses were often at odds,so the two “would go at it like cats anddogs,” Lowenthal said. At one particular-ly contentious point, he said, they had ascreaming match on the Senate floor.

“But Lendell and I found ourselvessharing common values about how to goabout the work,” he added.

Lowenthal left the committee staff in1999 to serve as the first legislativedirector for Sen. Evan Bayh (D-Ind.).Later that year, he moved to the Com-modity Futures Trading Commission aschief of staff. In 2001, he took a post atFreddie Mac, where he served as direc-tor of government relations until joiningVan Scoyoc in 2003.

Porterfield served on the panel staffuntil he joined the firm in 2001.

Aside from sporting matching goldwatches and rimless glasses, the twoappear to have little in common.Lowenthal, the Democrat, comes from aWall Street family and was reared in a sub-urb of New York City. Sitting at a down-town Starbucks recently, the Ivy Leaguerappears rumpled, though his suit is pris-tine. His enthusiasm gets the better of himas he speaks, and his Republican counter-part edits him with a glance.

Porterfield, the Republican, comesfrom small-town Tennessee. He went tocollege in the South and got his firstexposure to Washington, D.C., with aninternship at the conservative HeritageFoundation. Though Porterfield isLowenthal’s junior by four years, he hasbeen lobbying longer, and that his namewould come first in the firm’s title wasnot a matter of discussion.

The two said they have found com-mon ground in their interest in the nutsand bolts of policy and process — aquality they aim to make a hallmark ofthe new firm. At a time when lobbyistshave made headlines for trading onaccess and undue influence with law-makers, Porterfield and Lowenthal goto great lengths to stress that theypractice the business differently.

Especially in the detail-orientedworld of financial services, “you’ve gotto work the substance — understandwhere the Member has been, and wherethe client is,” Lowenthal said.

Despite the personal polarities the pairbrings to the fledgling firm, neither hasextensive experience working the HouseFinancial Services Committee. Theyaim to add that capacity when they maketheir first hires later this year.

Duo Courts Wall Street At New K Street Shop

Financial services lobbyists Andrew Lowenthal and Lendell Porterfield learned the ropes asaides to Sens. Chris Dodd (left) and Richard Shelby, respectively.

Published in Roll Call, January 30, 2006; Copyright 2006. All rights reserved. This file is for web posting only; may not be copied or e-mailed.Provided by The Reprint Outsource, 717-394-7350.

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