At its annual meeting in New York today, the Securities Industry and Financial Markets Association elected its new chair and handed out industry leadership awards.

Blythe Masters was elected as the trade association’s chairman for 2009. Masters is head of global commodities for JP Morgan Chase & Co. Douglas Edwards of Morgan Keegan & Company, Inc. was appointed chair-elect, and Bernard Beal, CEO of M.R. Beal & Company will serve as vice-chair. SIFMA members elect the board of directors, from which the chairman and other officers are elected at a board meeting during the association’s annual meeting, which concludes today in New York.

“We warmly welcome SIFMA’s new leadership, said SIFMA’s CEO and president, Tim Ryan. “By agreeing to serve as chairman in 2009, Blythe Masters will provide much needed consistency during turbulent times.”

In addition, the group gave Edward Jones, Merrill Lynch and Pershing its Diversity Leadership Awards.

Edward Jones won the Emerging Leadership Award for a new program for recruiting, hiring and retaining new female financial advisors. Merrill received the Innovative Leadership awards for women-focused initiatives in the Middle East and North Africa, which are representative of a global diversity and inclusion strategy that includes women as key participants in the commercial endeavors of every country in which the firm does business. Pershing was recognized for Sustained Leadership, particularly its School To Work Programs, which have been in existence for approximately 16 years, giving students hands-on experience in the financial industry.

“We are pleased to honor these firms for their successful efforts to promote inclusion in the workplace,” said Ryan. “As an industry we must meet the challenges and maximize the opportunities of an increasingly diverse employment pool and customer base across the globe. Today we recognize Edward Jones, Merrill Lynch and Pershing for their outstanding diversity programs.”