Bank of America Merrill Lynch [BAC] has hired Todd Kaplan, who was a global former head of leveraged finance at Merrill Lynch before it became part of the Charlotte, N.C.-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.

Kaplan joined Citadel in March 2009 after leaving Merrill in the fall of 2008. He was with Merrill for 22 years, working as the head of corporate finance, capital markets and chief operating officer of the global markets and investment banking group prior to becoming the head of global leveraged finance.

It couldn’t be determined who will replace Kaplan at Citadel. Calls to the Chicago-based firm were not immediately returned.

Prior to becoming a vice chairman and member of the executive client coverage group, Chapin was head of global investment banking at Merrill.