Wealth Manager Fidelis Hires Bank of America Exec to Oversee Bond Investing
Image via Fidelis Capital Christopher Gunster Investment>Fixed Income Wealth Manager Fidelis Hires Bank of America Exec to Oversee Bond Investing Fidelis Capital has hired Christopher Gunster from Bank of America Corp. as head of fixed-income strategies (Bloomberg) -- Fidelis Capital, a registered investment adviser catering to wealthy clients, is ramping up its services with a new leader of fixed-income investing.
The wealth manager has hired Christopher Gunster from Bank of America Corp. as head of fixed-income strategies, Fidelis announced Monday. Gunster, with more than 30 years of industry experience, was the head of fixed-income portfolio management at BofA’s chief investment office, leading a team that oversaw $60 billion for clients.
Fidelis has been expanding since launching last year. In September, the firm scooped up a five-person wealth management team at Bank of America Private Bank that advised over $4.5 billion in client assets, according to a statement from the firm.
Gunster said he was excited to start the role at an opportune time for bond investors as yields have surged. The yield on 10-year US Treasuries is currently above 4.2%, compared to less than 2% in 2021 before the Federal Reserve started hiking interest rates to combat inflation.
“We’re at a great point for fixed income, period,” he said.
At Fidelis, Gunster said he will have the flexibility to invest in different parts of the market, from corporate bonds to municipal bonds, based on the relative value of different securities. Larger institutions can struggle to provide that level of customization for clients, he said.
Tampa-based Fidelis was founded by portfolio managers and wealth advisers who previously worked at the private banks for BofA and Wells Fargo & Co.
To contact the author of this story:
Amanda Albright in Overland Park at [email protected]
Comment * Switch to plain text editorMore information about text formats
Text format CommentsPlain text Comments- Allowed HTML tags: <em> <strong> <blockquote> <br> <p>
- No HTML tags allowed.
- Web page addresses and e-mail addresses turn into links automatically.
- Lines and paragraphs break automatically.
- Load More
- Next Article
- Previous Article
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.
Originally posted on: https://www.wealthmanagement.com/fixed-income/wealth-manager-fidelis-hires-bank-america-exec-oversee-bond-investing