SIA and BMA to merge

The Securities Industry Association (SIA) and the Bond Market Association (BMA) have announced that they will merge to form the Securities Industry and Financial Markets Association (SIFMA).

The creation of the new trade association, which is expected to be completed in the third quarter, will create a single body to fight the industry’s corner on legislative, regulatory and market practice issues.

SIFMA will comprise three business groups: the Capital Markets Group, the Private Client Group and the Asset Management Group.

A transitional executive committee, co-chaired by current association chairmen Edward Frost of Goldman Sachs and James Gorman of Morgan Stanley will serve as the

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