Naples firm breaks from NAFH

NAPLES -- Michael Morris and John Suddeth created a new investment management firm this week. Naples Global Advisors is based in Naples, and headquartered on Fifth Avenue South.

Previously, Morris and Suddeth founded Naples Capital Advisors, an investment management firm and one-time subsidiary of TIB Financial Corp. But over the past several months, TIB has been involved in a number of merger transactions and corporate changes. First, it was acquired by North American Financial Holdings Inc. (NAFH); then NAFH merged with Capital Bank to form a $6.6 billion-asset banking institution with 146 branches across five states.

The new, employee-owned and SEC-registered firm manages $120 million in assets for clients in and around the Naples area. Joining Morris and Suddeth at the new firm are Kerry Geroy, a trust and estate administrative specialist, and Nikki Felts, a certified financial planner.