Cerberus has brought on Alvaro de Molina, the former chief financial officer at Bank of America, to run its financial services division, a spokesman confirmed.
De Molina left Bank of America in December to avoid what he called “suffocating regulation,” and said at the time he would be interested in a future in private equity or hedge funds. Molina worked at Bank of America for 17 years, including 18 months as head of the investment bank.
