John Taft, chief executive of RBC Wealth Management, Royal Bank of Canada’s US wealth management arm has been named chairman of the Securities Industry and Financial Markets Association for 2011. Taft will also continue in his role at RBC.

As chairman-elect of SIFMA in 2010, Taft was instrumental in advocating for reform of the US financial regulatory system, playing a key role in lobbying for a new harmonized federal fiduciary standard of care and recommending rules that preserve investor choice.

Taft will continue to encourage lawmakers and regulators to strike a balance on reform measures that will help ensure the US avoids future financial crises, while allowing financial institutions to effectively do their part in supporting America's economic recovery and job creation, RBC said.