McClelland to Join NationsBanc Montgomery

NationsBanc Montgomery Securities said Carter McClelland, the former co-head of global investment banking for Deutsche Bank, will start Monday as co-head of its investment banking business in New York. NationsBanc Montgomery, whose chief executive, Thomas Weisel, 57, resigned in a dispute with the company’s parent, NationsBank Corp. of Charlotte, N.C., said McClelland will sit on its executive committee and will report to its new chief executive, Lewis Coleman. He will work with co-head of investment banking Joseph Schell, who is based at the company’s San Francisco headquarters. NationsBank shares fell $4.38 to close at $54.38 on the New York Stock Exchange.