The former national sales manager of NationsBank Corp.'s full-service broker-dealer has been hired as president of a Texas start-up.

Raleigh Hortenstine 3d left the North Carolina banking company in February. He will report to Jody Grant, chairman and chief executive officer of Texas Capital Bancshares, which expects to open its first bank branch this fall.

Mr. Hortenstine was an executive vice president at NationsBank and sales manager of the broker-dealer, NationsBanc Investments Inc.

Earlier he had been a banker in Dallas for 25 years. He had joined Republic National Bank there in 1969 and ultimately became managing director of its funds management group, responsible for global funding operations, the bank's investment portfolio, and global trading and distribution capabilities.

Republic Bank merged with Interfirst Bank in 1987 and changed its name to First Republic Bank. A NationsBank precursor later bought First Republic.

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