James W. Brinkley, president and chief operating officer of Legg Mason Wood Walker Inc., was elected chairman of the Securities Industry Association yesterday at the trade group's annual convention in Boca Raton, Fla.
Brinkley succeeds Roy J. Zuckerberger, advisory director of New York-based Goldman Sachs & Co.
In an address to the Washington-based trade group's members, Brinkley said the industry must focus on several issues, including promoting public trust and confidence in securities firms.
"The key to our financial success lies in our continued adherence to the principle that has earned us success in the past: working hard to earn the public's trust and confidence day-in and day-out," Brinkley said.
Brinkley, who began his career in the brokerage business in 1962 as the first employee hired at Mason & Co., said the industry must look beyond the U.S. market because barriers are breaking down.
"In order for SIA to remain a force for change, we must continue to examine where our industry and business will be and move in that direction," said Brinkley.
The SIA represents more than 740 securities firms. Its chairmanship is rotated annually among industry executives.