Tampa wealth management firm lures Bank of America executive

Tampa-based Fidelis Capital, an advisor-owned wealth management firm, says it hired Christopher Gunster, who was most recently at Bank of America as managing director and head of fixed-income portfolio management.

Gunster will head Fidelis Capital's fixed-income strategies department.

"We believe that fixed income is an overlooked asset by most financial advisors," says Gunster in a news release. "By customizing each client's financial plan, we will provide better performance and a better client experience."

Gunster says the decisions made by large corporations to mitigate risk disadvantaged ultra-high-net-worth investors rather than protect them, as the policies were intended to.

Fidelis is co-led by founding partner Neale Ellis, also the co-chief investment officer, who was formerly portfolio manager for the managed active core portfolio of Bank of America Private Bank. Fidelis says it has multiple industry-leading portfolio managers, including Michael Sellers and Aaron Wall from Bank of America, and Matt Michaels, who Fidelis says was one of Wells Fargo's top portfolio managers.

Fidelis officials say during his time with Bank of America, Gunster founded the U.S. Trust Fixed Income Management Group. Gunster also managed a team of fixed income specialists overseeing $60 billion for institutions, individuals and families.

Fidelis officials say one goal Gunster has is to create a "tax-advantaged fixed income" strategy that will be relatively unique in the industry.

Fidelis Capital recently hired a team of officials who were advising on more than $4.5 billion in client assets.

Fidelis Capital was founded by former private bankers from Wells Fargo and Bank of America. It has offices in Tampa; Dallas; Washington, D.C.; and Greenwich, Connecticut.

Correction: This story was updated to correct Fidelis Capital led by all its partners.