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Michael O'Mahoney Promoted To Senior Vice President, Treasury At Bank Of Butterfield

12 12 2003

Hamilton, Bermuda: 12 June 2003 - Bank of Butterfield is pleased to announce the promotion of Michael O'Mahoney to Senior Vice President, Treasury.

Reporting to Richard Ferrett, EVP & Chief Financial Officer, Mr. O'Mahoney oversees the Bank's treasury dealing activities, such as foreign exchange, trading on financial markets worldwide and management of the Bank's market risk and liquidity. Before joining Bank of Butterfield in November 2001, he gained extensive experience in international treasury in a number of senior management roles within the international financial community.

"This promotion recognises Mr. O'Mahoney's significant expertise and the strategic importance of his position to the organisation. His leadership and experience have played a significant part in the success of our treasury business," said Mr. Ferrett.