Gene Taylor, formerly head of Bank of America Corp.'s investment-banking unit, has joined Fortress Investment Group LLC as an operating executive.
Taylor, 61 years old, joins an expanding list of former bank executives that have been hired by private-equity outfits recently as the firms increasingly go after targets in the financial sector.
Taylor will help Fortress evaluate investment opportunities, and provide operational guidance by such means as sitting on the targets' boards, said one person. A Fortress spokeswoman confirmed Taylor is now with the New York firm, but said he wasn't available for further comment.
Taylor retired from Bank of America in December, after serving the Charlotte, N.C., bank and its predecessors for 38 years, most recently as president of Global Corporate & Investment Banking. His retirement was part of a shakeup of the bank's investment banking unit, which posted huge losses for the preceding quarter.