The Securities Institute of Australia (SIA) and the Australasian Institute of Banking and Finance (AIBF) have released a member information package outlining details of their proposed merger.

The package outlines how the merger will help sustainability through developing necessary scale advantages; accessing future growth opportunities; and making the new organisation relevant by providing an integrated, comprehensive range of services.

If the merger proposal succeeds, members of both organisations will vote at an extraordinary general meeting on June 29 and appoint an interim board.

In a statement, SIA President Fred Grimwade and AIBF President Mike Pratt say they are excited to be entering the consultative process. They say the rationale behind the proposed merger is to “harness the respective membership and higher education strengths of both the AIBF and the SIA”.

Both CEOs will hold member forums around Australia and NZ to address any questions about the merger.