James Gorman has been elected chairman of the U.S. securities industry’s trade association for 2006.

Gorman is slated, in early in 2006, to become president and chief operating officer of Morgan Stanley’s retail division. He previously ran Merrill Lynch’s retail operation. The board of directors of the Securities Industry Association elected Gorman today at its annual meeting in Boca Raton, Fla.

He will succeed Daniel Ludeman, president and CEO of Wachovia Securities LLC. Ludeman will continue to serve on the board of SIA in 2006 as immediate past chairman.

Robert Bagby, chairman and CEO of A.G. Edwards Inc., will serve as chairman-elect. Ellyn McColgan, president of Fidelity Brokerage Company, and Chet Helck, president and chief operation officer of Raymond James Financial Inc., will serve as vice chairs, Richard Brueckner, CEO of Pershing LLC, will serve as treasurer.

The SIA also elected its new slate of directors.

SIA Web site
http://www.sia.com