First Union Corp.'s plan to open a West Coast capital markets office spotlights the seriousness of the North Carolina bank's efforts to provide alternative financing to corporate customers.

The bank said the new office will be managed by John Dahl, 41, formerly a managing director at First Chicago Corp. Mr. Dahl will report to Mark Mahoney, a managing director who heads First Union's investment banking division in Charlotte.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.