Charlotte, NC, United States (AHN) – Bank of America (NYSE: BAC) announced Monday that it has brought two ex-Merrill Lynch executives back on board to help manage its global banking business.
Todd Kaplan, 45, and Samuel Chapin, 52, left Bank of America in March of 2009, just a couple months after it acquired Merrill Lynch.
The men will act as executive vice chairmen of global banking and report directly to Thomas Montag, president of global banking.
“Sam and Todd are among the most widely respected investment bankers in the industry,” said Thomas Montag. “Their decisions to rejoin Bank of America Merrill Lynch are a reflection of the tremendous momentum we have achieved as a combined company and global industry leader.”
Kaplan was the head of investment banking for the securities unit at Citadel Investment Group LLC most recently, a post he left in January. Previous to that he had been a Merrill Lynch employee for 22 years.
Chapin was a 26-year Merrill Lynch employee before the acquisition took place, with his latest role being vice chairman of a executive client coverage group.
Kaplan and Chapin will join former Merrill executives, Harry McMahon and Fares Noujaim as executive vice chairmen.
Bank of America’s global banking unit posted profit of $10.2 billion in 2009, proving to be one of its strongest businesses during the recession.