Bank of America Merrill Lynch has hired Todd Kaplan, who was a global former head of leveraged finance at Merrill Lynch before it became part of the Charlotte, North Carolina-based bank. He was most recently the head of investment banking at Citadel Investment Group.

At Bank of America, Kaplan will be co-executive vice chairman with Samuel Chapin, who was also at Merrill, where he served as vice chairman and a member of the executive client coverage group. Their new jobs are effective immediately. Chapin will be based in New York, while Kaplan will be based in Chicago.

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