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Alan Richardson to Leave Bank of Bermuda

18 July 2002

(Hamilton, Bermuda: 18 July 2002) Bank of Bermuda is today announcing that Alan Richardson, Head of Banking and Lending Products, has decided to leave the Bank to pursue other interests and opportunities. He will be leaving on 2 September 2002.

Mr Richardson has had a great impact on the Bank since he joined in 1988, especially in the Retail Clients Services division, which he directed for four years. Having joined the Bank originally in the Finance & Planning department, Mr Richardson gained experience in the Bank's Asia and European offices before taking on responsibility for the Bank's retail division in 1997.

"It is with great sadness we see Alan leave us," said Henry Smith, Chief Executive Officer. "His work in Retail was instrumental in shaping it to be a profitable business for the Bank and a quality service for the Bermuda community. Alan played a vital role recently in establishing the Banking and Lending Products division following its creation last year and has also represented the Bank tirelessly in many externally-based committees and Boards. I will certainly miss Alan and wishing him the very best in his future endeavours.'