The Securities Industry and Financial Markets Association elected new members to its board of directors yesterday and re-elected two executives from regional firms with municipal bond businesses.

G. Douglas Edwards Jr., former president and chief executive officer of Morgan Keegan & Co. in Memphis, was appointed chairman-elect and Bernard Beal, CEO of M.R. Beal & Co. in New York, was appointed vice chairman through 2009. Both members were elected to their respective positions last year.

SIFMA made the announcements at its annual meeting held this year in New York City. The board also re-elected Blythe Masters, head of global commodities at JPMorgan Chase & Co., as chairman for 2009.

"By agreeing to serve as chairman in 2009, Blythe Masters will provide much needed consistency during turbulent times," SIFMA CEO and president Tim Ryan said.

Ryan was vice-chairman of investment banking at JPMorgan before joining SIFMA in January.

Other directors appointed yesterday with public finance experience are Noe Hinojosa Jr., president and CEO of Dallas-based Estrada Hinojosa & Co., who was re-elected and will serve on the board through 2011. Alexandra Lebenthal, president and CEO of New York-based Lebenthal & Co., was re-elected and will serve on the board through 2009. Paul Purcell, president and CEO of Milwaukee-based Robert W. Baird & Co., was re-elected and will serve on the board through 2009.

Ronald J. Kruszewski, chairman and CEO of St. Louis-based Stifel, Nicolaus & Co., was newly elected to the board this year and will serve through 2009. Curt Bradley Jr., chief operating officer of Little Rock-based Stephens Inc., was newly elected to the board and will serve through 2011. John R. Gidman, executive vice-president of Boston-based Loomis, Sayles & Co., was re-elected and will serve on the board through 2010.

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