May 28 (Reuters) - Canadian Imperial Bank of Commerce ( CM )

has hired Brad Aston, a veteran of nearly two

decades at Barclays ( JJCTF ), as the global head of leveraged

finance in its capital markets unit, according to a memo seen by

Reuters on Tuesday.

The appointment underscores the lender's focus on its

leveraged finance business in the United States, it said, at a

time when private investment firms are challenging the dominance

of banks in the industry.

Leveraged loans are targeted at companies looking to do an

acquisition, or those that have a high debt load. Private

capital firms can be more aggressive in offering such loans,

since they are not subjected to the degree of regulation that

banks operate under.

Aston, previously the head of industrials and energy

leveraged finance at Barclays ( JJCTF ), will join CIBC in August.

CIBC also said it has hired Goldman Sachs ( GS ) alum Vishal

Bhalla as managing director of leveraged finance in capital

markets.