Sam Chapin and Todd Kaplan, who left Merrill Lynch amid an exodus of top investment bankers as the securities firm was sold to Bank of America, are returning to their old firm, according to people familiar with the situation.

Chapin, 52 years old, and Kaplan, 45, are expected to be named executive vice chairmen of global banking, reporting directly to global banking and markets president Tom Montag, these people said. Bank of America, based in Charlotte, North Carolina, is expected to announce the moves on Monday. Chapin will be based in New York; Kaplan will be based in Chicago. Until mid-January, Kaplan had headed a new investment-banking unit for Chicago hedge fund Citadel Investment Group.