Bank of America Merrill Lynch Names Sam Chapin and Todd Kaplan Executive Vice Chairmen of Global Banking

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Feb 22, 2010, 07:30 ET

NEW YORK, Feb. 22 /PRNewswire/ -- Bank of America Merrill Lynch Global Banking and Markets President Tom Montag today announced that Sam Chapin and Todd Kaplan have been appointed executive vice chairmen of Global Banking, effective immediately. In these roles, Chapin and Kaplan will report to Montag and focus on deepening strategic client relationships and delivering the company's vast global resources on their behalf. Chapin will be based in New York, and Kaplan will be based in Chicago.

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"Sam and Todd are among the most widely respected investment bankers in the industry," said 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."

Chapin, a 26-year Merrill Lynch veteran, served as a vice chairman and member of the executive client coverage group from 2003 to 2009, responsible for developing and coordinating senior corporate client relationships around the world. Prior to that, he was head of global investment banking from 2001 to 2003. He joined Merrill Lynch in 1984 as a member of the mergers and acquisitions group and was named a managing director in investment banking in 1993 and a senior vice president of the firm in 2001.

"Bank of America Merrill Lynch has a tremendous range of global resources that clients need and value," said Chapin. "With our strong momentum, we are well positioned to continue deepening and growing our client relationships. It will be a pleasure to return to the firm and to work with so many talented bankers around the world."

Kaplan was most recently the head of investment banking at Citadel Investment Group since March 2009. Prior to Citadel, he was a 22-year Merrill Lynch veteran and was head of the global principal investments division when he left the company. Between 2006 and 2008, he was chairman of global leveraged finance and a member of the global origination executive committee. He held a number of senior roles within investment banking, including head of leveraged finance, head of corporate finance, head of capital markets and financing, and chief operating officer of the global markets and investment banking group. He joined Merrill Lynch in 1986, and was appointed senior vice president in 2002.

"I'm excited to leverage this unparalleled international platform," said Kaplan. "On a personal note, I look forward to working with many longtime colleagues and new partners to deliver the highest quality strategic solutions for clients."

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 59 million consumer and small business relationships with 6,000 retail banking offices, more than 18,000 ATMs and award-winning online banking with nearly 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

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SOURCE Bank of America Merrill Lynch