Ashvin Chhabra is rejoining Merrill Lynch Wealth Management as chief investment officer and head of investment management and guidance, based in New York. He replaces Lisa Shalett, who the bank said left in February.

Chhabra, who served as head of wealth strategies and analytics at Merrill between 2001 and 2007, will oversee the delivery of investment advice and strategy to financial advisors and their clients, Bank of America said.

Additionally, Chhabra will lead investment management and guidance of manager due diligence, investment analytics and the ultra high net worth investment office.

Chhabra most recently served as the chief investment officer at the Institute for Advanced Study in Princeton, NJ. He spent six years there, during which time he worked closely with the institute’s board of trustees’ investment committee.

Merrill Lynch Global Wealth Management has about 15,000 financial advisors and $1.8 trillion in client balances, as at March 31.