* The board of directors for the Bond Market Association and the Securities Industry Association voted to merge the two groups last week. The result will be the Securities Industry and Financial Markets Association, to be based in both New York and Washington D.C. The merger will be completed pending a vote by member firms of the two organizations. Proxies went out last Thursday and a special meeting is being held July 27.
The new board will have between 32 and 35 members. Representatives will come from large global firms, middle-market companies and smaller U.S. companies, as well as non-U.S. firms and asset managers. The association will have three business groups, including the capital markets group, the private client group and the asset management group.