(Bloomberg) -- Lazard Ltd. has hired Bank of America Corp. managing director Adam Cady to cover some of its largest private equity and alternative asset manager clients, according to people with knowledge of the matter.

New York-based Cady, who was last year named head of Bank of Americas’ financial sponsors group, is set to join Lazard in a senior role in February after a standard period of leave, said the people, all of whom requested anonymity discussing an appointment that isn’t yet public.

The move follows the firm’s July announcement of a push into capital solutions, a group led by former JPMorgan Chase & Co. banker Tim Donahue, who has also been tasked with overseeing Lazard’s coverage of the largest US-based alternative asset managers and private equity firms.

A representative for Lazard declined to comment. A Bank of America spokesperson didn’t immediately have a comment.

Read more: Lazard’s New CEO Predicts M&A Comeback After Lackluster Quarter

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Author: Gillian Tan