Bloomberg reported that Bank of America Corp. hired Jeffrey Peek, who ran commercial lender CIT Group Inc. for six years, as an executive vice chairman in the global investment bank.

Bloomberg reported Peek, most recently a vice chairman at Barclays Plc, will focus on financial institution clients when he starts work in New York during the summer, investment banking chief Christian Meissner said in a staff memo. Peek said in an interview that he will start July 6.

According to the Bloomberg report, Peek spent almost two decades at Merrill, which Charlotte, North Carolina-based Bank of America acquired in 2009. He joined CIT after being denied the top job at Merrill in 2001 and spending 19 months as head of the asset-management unit at Zurich-based Credit Suisse Group AG.

Read the full Bloomberg report - BofA Hires Jeff Peek, Former CIT Chief, for Investment Bank.