Complex sentence: SIFMA announced in May 2009 that it would also shed its London-based European operation, which would be merged with the London Investment Banking Association (LIBA), and headed by Jonathan Taylor, LIBA's director general.
Split into simpler sentences: SIFMA announced in May 2009 that it would also shed its London-based European operation. That operation will be merged with the London Investment Banking Association (LIBA), and headed by Jonathan Taylor, LIBA's director general.