James Gorman was elected chairman of the Securities Industry Association for 2006, succeeding Wachovia Securities President and CEO Daniel Ludeman. Gorman, formerly with Merrill Lynch, also will join Morgan Stanley as president and COO of the firm's Individual Investor Group in February. Other appointments to the SIA board of directors include Robert Bagby as chairman-elect, Chet Helck and Ellyn McColgan as elected vice chairs, and Richard Brueckner as treasurer.
Cantor Fitzgerald hired Scott Gruber, formerly with National Bank of Commerce, to oversee fixed-income sales and trading as managing director of its Memphis office.
Instinet added Audrey Barsa as VP in the Execution Consultants Sales Group. Barsa previously held positions at Brown Brothers Harriman and Bear Stearns.