First Union Funds Hire a Federated Executive

David Rainville has joined First Union Corp.'s Evergreen Funds group as a senior vice president in its shareholder service division, the Charlotte, N.C., banking company announced last week.

Mr. Rainville joins Boston-based Evergreen Service Co. from Federated Investors, Pittsburgh, where he held the same title and handled record keeping for the Federated Funds and 25 private-label clients. Last month, Federated outsourced its mutual fund accounting to State Street Corp.

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