First Union Corp. on Friday completed its acquisition of Bowles Hollowell Conner & Co., a Charlotte, N.C., investment bank that specializes in private equity and leveraged buyout transactions.

"Bowles Hollowell is a substantial addition to our investment banking platform," said Ken Thompson, executive vice president and co-head of First Union's capital markets group.

"Their well-established merger and acquisition advisory capabilities, combined with their strong private equity group relationships, will immediately enhance our ability to serve clients and leverage our comprehensive capital markets product line," Mr. Thompson said.

First Union said its M&A group will combine with Bowles and operate as Bowles Hollowell Conner & Co., a division of First Union capital markets group. It will be led by Steve Cummings, chairman and chief executive officer of Bowles Hollowell Conner.

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