Ex-Merrill Bankers Rejoin the Firm: Report - TheStreet

Ex-Merrill Bankers Rejoin the Firm: Report

Former Merrill Lynch bankers Sam Chapin and Todd Kaplan are returning to the firm, a report says.
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NEW YORK (

TheStreet

) -- Merrill Lynch, acquired by

Bank of America

(BAC) - Get Report

at the start of 2009, will name former Merrill bankers Sam Chapin and Todd Kaplan as executive chairmen of global banking, a report says.

Chapin and Kaplan, who left Merrill along with other top bankers as the investment firm was sold to Bank of America, are returning to the firm and will report to Tom Montag, global banking and markets president, the

Wall Street Journal

reports, citing people familiar with the situation.

Bank of America is expected to announce the appointments Monday.

Chapin will be based in New York; Kaplan will be based in Chicago, the

Journal

reports. Kaplan, until mid-January, headed a new investment banking unit for hedge fund Citadel Investment.

Kaplan and Chapin are returning to Merrill because they are impressed with how the business is doing, said a person familiar with the moves, the

Journal

reports. It is not clear what their pay will be, the

Journal

reports.

-- Written by Joseph Woelfel in New York.

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