The Securities Industry and Financial Markets Association announced Turesday it elected John G. Taft, RBC Wealth Management’s chief executive officer, as the association's chairman for next year.

Bernard B. Beal, the CEO of M.R. Beal & Co., and Alexandra Lebenthal, the president and CEO of Lebenthal & Co., will continue in their previously appointed roles as vice chair and treasurer, respectively.

"We are delighted to welcome John as the new chairman of SIFMA," said Tim Ryan, president and CEO of SIFMA. "During this unprecedented time of rulemaking and implementation of new financial regulations, the industry is sharing its broad expertise and experience with regulatory agencies through thoughtful analysis, information and comment.  At the same time, the industry is working to effectively communicate the impact of these new laws on the American businesses, investors and families served by our members. John's leadership, experience and dedication to our industry will be invaluable in these efforts."

SIGMA also elected 17 directors with terms concluding in 2013. Those directors are: Francois Barthelemy of Société Générale, Joan Binstock of Lord Abbett,   Benjamin L. Brigeman of Charles Schwab & Co., Kent Christian of Wells Fargo, Didier Descamps of HSBC Bank plc, Kenneth D. Gibbs of Jefferies & Co., John R. Gidman of Loomis, Sayles & Co., Thomas Hartnett of Deutsche Bank AG, David B. Heller of Goldman, Sachs & Co., Douglas M. Hodge of PIMCO, William A. Johnstone of Davidson Cos., Edward J. Kelly 3d of Citigroup, Kathleen Murphy of Fidelity Investments, Thomas R. Nides of Morgan Stanley, Timothy P. O'Hara of Credit Suisse Securities, Thomas Patrick of Bank of America Merrill Lynch, and Joseph Sweeney of Ameriprise Financial.