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.

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