Carter McClelland will start his new job as co-head of investment banking at NationsBanc Montgomery Securities on Monday, a spokeswoman confirmed.
Mr. McClelland, 53, former co-head of investment banking at Deutsche Bank, was to have joined the investment banking unit of Charlotte, N.C.- based NationsBank Corp. two weeks ago but took more time to consider his options, market watchers said.
NationsBanc Montgomery has seen a wave of high-level defections this week, including that of Thomas Weisel, 57, its chief executive officer.
Mr. McClelland, who announced his intention to join the bank in June, is to start at NationsBank two days before the closing of its merger with BankAmerica Corp.
Mr. McClelland will be based in New York and will sit on NationsBanc Montgomery's executive committee. He will share leadership of investment banking activities with Joseph Schell and will report to Lewis Coleman, NationsBanc Montgomery's new chief executive officer, tapped Tuesday to replace Mr. Weisel. - Liz Moyer