Fieldpoint Private Hires BNY Duo with $900 Million Book
Fieldpoint Private has hired a pair of BNY Mellon private bank veterans who were managing around $900 million in Miami for around 75 household accounts.
Joe Fernandez and Christina Hudson, who worked at the Bank of New York unit for 28 and 22 years, respectively, are opening an office for Greenwich, CT-based Fieldpoint in Miami, assisted by team associate Johanna Arbelaez-Perez. She had been with BNY for 20 years, according to Fieldpoint. The group together produced $5.2 million in annual revenue, the brokers said in an interview about their move.
Fieldpoint was founded in 2008 by former Merrill Lynch CEOs Dan Tully, David Komansky, and the late Wiliam Schreyer, former PaineWebber/UBS Wealth, former TD Ameritrade CEO Joe Moglia and other Wall Street trading and retail brokerage luminaries. Its growth plans were set back by the financial crisis and management shakeups, including the tenure of former Smith Barney executive Robert Matthews, who departed as Fieldpoint’s president and CEO in December.
With the new team, the firm now has 28 advisors, a company spokesman said. Tim Tully, Fieldpoint’s chairman, assumed Matthews’ role as CEO. (Christopher DeLaura, a veteran of UBS and of Westport Resources, is president and CEO of the broker-dealer unit.)
“Our clients are entitled to our best thinking, without competing agendas or biases,” Hudson said in a prepared statement.
Critical to Fernandez’s decision to leave BNY Mellon after 28 years was Fieldpoint’s integration of wealth management with traditional credit services, according to a prepared statement. “Here, Christina and I can advise on everything that matters, without holding back because of gaps in the solutions we can deliver,” he said.
A spokesman at BNY Mellon, which manages around $254 billion at its wealth unit, confirmed the departures but declined to comment on the asset figure. The bank earlier this week said it hired Christine Calderon, who had worked for more than 20 years as a private banker at JPMorgan Chase & Co., in Chicago to run product, service and sales delivery.
Fernandez, who served as BNY Mellon’s Florida region president for the last six years, joined Fieldpoint this month after a garden leave, while Hudson arrived in August, the Fieldpoint spokesman said.
Fernandez did not immediately return a request for additional comment.
Hudson had been at BNY Mellon for 22 years, and previously worked for six years at SunTrust (now part of Truist) as a portfolio manager and asset/liability specialist.