NationsBanc Forming New Investment Group

NationsBanc Montgomery Securities, the San Francisco investment bank owned by BankAmerica Corp., said that it is creating an investment banking group that will cater to mid-size companies nationwide. The new group will focus on the 29,000 companies, with annual revenue of $10 million to $500 million, with which BankAmerica, the nation’s largest bank, has ties. That represents 49% of all mid-sized companies in the states BankAmerica serves, according to Graham Denton, who will head the new division. BankAmerica was formed in September by the merger of NationsBank and BankAmerica. “We’ve already got relationships with these companies through the bank,” Denton said. “This new division will bridge the gap between a manager in the bank’s middle-market area and the investment bank.”