First Union Capital Markets has hired David Knowlton from Gleacher Natwest as a managing director in its mergers and acquisitions division.

Mr. Knowlton had been in charge of North American investment banking at Gleacher. He starts his new job today. The 41-year-old investment banker is expected to build a team of 10 to 15 leveraged buyout specialists at First Union's Bowles Hollowell unit, roughly doubling the banking unit's staff covering financial sponsors.

Before joining Gleacher in 1996, Mr. Knowlton spent 17 years at Chase Securities Inc. and its predecessor firms.- J. Alex Tarquinio

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