NationsBank Gets Go-Ahead for New Fixed-Income Firm

NationsBank Corp. last week said its Boatmen's Capital Management Inc. had received registration from the Securities and Exchange Commission. Boatmen's Capital, a fixed-income manager dedicated to institutional investors, takes it name from Boatmen's Bancshares, the St. Louis-based banking company that NationsBank acquired in January. NationsBank, based in Charlotte, N.C., has $114 billion of assets under management. The unit, which manages $4 billion of assets with an active duration style, was created in response to client demands. This spring some pension plans withdrew accounts with an aggregate of $2 billion of assets; some of the defecting clients publicly complained the merged bank was slow to meet their needs.