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Financial lobby groups merge

The two largest US and European trade associations for banks and brokers in the securities markets merged on Monday, creating a new body known as the Association for Financial Markets in Europe (AFME). The move combines the US-based Securities and Financial Markets Association (SIFMA), which represents 650 banks, brokers and asset managers, with the London Investment Banking Association (LIBA). AFME will be chaired by Gaël de Boissard, head of global securities at Credit Suisse.

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