PNC Bank Corp.'s capital markets group has hired Richard Tito as managing director for sales and trading, a new position, a PNC spokesman confirmed Friday.

Mr. Tito, who is to start work on Oct. 15, is joining PNC from NationsBank's capital markets group, where he held the same title.

At PNC, he will report to Joel Calvo, president of PNC Brokerage Corp.

Mr. Tito left NationsBank last Tuesday and a successor has not yet been named, sources said. He could not be reached for comment.

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