04/15/2014 06:22 EDT | Updated 06/15/2014 05:59 EDT

Oliver names investment banker, long-time Conservative as chief of staff

OTTAWA - Recently-appointed Finance Minister Joe Oliver has gone to Bay Street for his chief of staff.

Dan Nowlan, a long-standing Conservative who until last November was the co-head of CIBC equity capital markets, was named the minister's chief of staff on Tuesday, making him the minister's top adviser.

The two share similar private sector backgrounds with solid Bay Street credentials, Oliver having worked with Merrill Lynch and later as director of the Ontario Securities Commission.

According to a biography posting, Nowlan has executed numerous high profile transactions, including the initial public offerings for major companies, and was vice-president in the investment banking group at National Bank Financial before joining CIBC in 2000.

He is also a director with the Manning Centre for Building Democracy think-tank and served as chief financial officer for Tim Hudak's winning 2009 campaign for the leadership of the Ontario Progressive Conservative party.

Nowlan also has experience in Ottawa, having served as a special assistant to several federal ministers under the Brian Mulroney government, including at Industry, International Trade, Science and Technology and Human Resources and Labour.

Oliver was appointed finance minister last month following the surprise resignation of Jim Flaherty, who had held the post from 2006 to 2014. Flaherty died suddenly last week at his Ottawa residence.