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. “Carter will provide essential leadership as we move forward with our ambitious expansion plans,” said Coleman in a statement. “He has the ideal management and industry experience to help us meet our goals in corporate finance, [mergers and acquisitions] and the international market.” NationsBank shares fell $4.38 to close at $54.38 on the New York Stock Exchange.