SOUTHEAST
First Union Capital Markets Corp. in Charlotte, N.C., has hired Webster Hughes and Curtis Y. Arledge as managing directors for its proprietary trading group.
Mr. Hughes and Mr. Arledge report to R. Owen Williams, First Union's managing director and head of fixed income.
Before joining First Union, Mr. Hughes founded and managed Analytical Strategy Group, which develops fixed-income trading software. Before that, he was a senior managing director in fixed income at Bear Stearns. He was also a research professional and salesman for Salomon Bothers.
Mr. Arledge was a partner and the senior trader of a hedge fund that specialized in fixed-income arbitrage at Mariner Investment Group.
Before that, he was a principal and senior portfolio manager at BlackRock Financial Management. Mr. Arledge also worked at Salomon Brothers as a quantitative analyst.
First Union Capital Markets Corp. is a unit of Charlotte-based First Union Corp.