Another Googler has landed at AOL… The latest is former YouTube monetization head Shashi Seth, who will now serve as SVP for Global Ad Products at AOL (NYSE: TWX). Seth left as YouTube’s head of monetization in June 2008 to become chief revenue office for image and video searcher Cooliris. Seth will report directly to Jeff Levick, AOL’s president of Global Advertising and Strategy. He’ll be based at AOL’s expanding Mountain View offices, joining another recent high profile hire, Brad Garlinghouse, who was just tapped to head AOL’s Communications efforts and manage the company’s West Coast AOL Ventures efforts.

The move comes as AOL winds down the major restructuring begun by CEO Tim Armstrong, who has brought in a number of his former Google (NSDQ: GOOG) colleagues. In addition to Levick, Armstrong has recently added Caroline Campbell in PR, while this summer, the search giant’s agency liaison Erin Clift took on newly-created post of SVP for global sales development.

The mix of hirings and firings are expected to continue at AOL through early next year, though the changes will be more at the margins. For example, at the same AOL said it was looking for a “world-class” CMO, AOL eliminated the posts belonging to COO Kim Partoll and John Kannapell, who was acting head of search and local media, as it parceled out those duties to other executives and departments.

• AOL Tosses Out COO Partoll, Search And Local Head Kannapel
• Industry Moves: Garlinghouse Is Back—And AOL’s Got Him