Wells Fargo Advisors has hired a team comprising Mike Reed, Zach Gates and Eli Strait from JPMorgan Chase that managed assets worth almost $1bn.
The team, forming the Reed, Gates, Strait Wealth Management Group, will be based in Lexington, Kentucky.
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The team reportedly managed about $972m in combined assets and deposits, with $5.95m in revenue, and focused on high-net-worth clients.
Reed and Gates joined JP Morgan through the bank’s acquisition of Bank One Corp in 2004, while Strait served various roles at JPMorgan since 2007.
