The move was revealed in an internal memo seen by Reuters.
Brown and Hutchinson worked together for more than a decade at Lehman Brothers Holdings and Barclays before Brown moved to Bank of America in 2010, according to the news wire.
A Bank of America representatives confirmed the contents of the memo to Reuters, while a Barclays representative declined to comment.
When Hutchinson starts in September, he will work with clients in the upstream oil and gas market out of Bank of America's Houston office.
Hutchinson
