April 08, 2009

Bank of America Corp. lost a team of six investment bankers specializing in power companies in Asia led by James Chapman, three people with knowledge of the matter said.Chapman, who worked for Lehman Brothers Holdings Inc. before joining Bank of America’s Merrill Lynch & Co. in September, was hired by Barclays Plc as managing director and head of power investment banking for the Asia-Pacific region, the people said, asking not to be identified before an announcement.

Ken Ng, a vice president in Chapman’s team, will also join the U.K. firm, they said.The departures add to an exodus of former Merrill Lynch bankers since Bank of America agreed to acquire the Wall Street firm in September. Barclays is among the few global banks continuing to add to staff after avoiding a government bailout following the financial crisis that toppled Lehman and cost Merrill its independence.