A unity between the Securities Institute of Australia (SIA) and the Australasian Institute of Banking and Finance (AIBF) is now a firm reality, with members voting unanimously for a full merger of the two organisations.

SIA President Fred Grimwade and AIBF President Mike Pratt say the merger will combine capabilities to form a “contemporary broad-based body for financial service professionals and provide the industry with stronger and more relevant education, training and professional development opportunities”.

The immediate past presidents of the AIBF Board and the SIA National Council will jointly chair the board until the new organisation has its first AGM in April next year.

A decision on a name for the new institute will be finalised over the next few months, but in the meantime it will trade under the joint AIBF and SIA brand names.