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Butterfield Appoints Senior Executive Vice Presidents for Bermuda and the Caribbean
Hamilton, Bermuda – 23 March, 2010 – In a filing to the Bermuda Stock Exchange (BSX), The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”; Ticker: NTB.BH) today announced the appointment of Michael Collins as Senior Executive Vice President, Bermuda and Conor O’Dea as Senior Executive Vice President, Caribbean.
Mr. Collins joined Butterfield in August 2009 as Executive Vice President, Corporate Development. Since joining, he has spearheaded several important initiatives at the Bank and was instrumental in bringing Butterfield’s successful recapitalisation efforts to completion in early March. In his capacity as Senior Executive Vice President, Bermuda, Mr. Collins will have overall responsibility for all of Butterfield’s customer-facing businesses in Bermuda—commercial and retail banking, wealth management and custody, as well as the supporting human resources, marketing and administrative functions. He will also chair the Group Credit Committee, and have responsibility for the Group’s Asset Management, Pension and Charitable Donations Committees.
Mr. Collins has 25 years of experience in financial services, having held progressively senior positions at JP Morgan in New York and later at HSBC in Bermuda, where he was the Chief Operating Officer. Mr. Collins also serves as Chairman of Caron Bermuda. He holds a BA in Economics from Brown University.
Mr. O’Dea joined Butterfield in 1989 and was named Managing Director, Butterfield Bank (Cayman) Limited in 1997. In mid 2009, he was also given oversight responsibility for Butterfield’s operations in The Bahamas and Barbados. In his capacity as Senior Executive Vice President, Caribbean, Mr. O’Dea will be responsible for all business lines in The Bahamas, Barbados and the Cayman Islands and the respective administrative and operational functions supporting those businesses. He will also have responsibility for the development and coordination of commercial and retail banking products and services across the Group’s community banking markets: Bermuda, Barbados and the Cayman Islands.
Mr. O’Dea is a Chartered Accountant who has worked in the financial services industry in the Cayman Islands for over 20 years. He is a past President of the Cayman Islands Chamber of Commerce, past President of the Cayman Islands Bankers Association, and Vice-Chairman of Island Heritage Holdings Limited. Since Hurricane Ivan in September 2004, Mr. O’Dea has acted as a Trustee and Vice Chairman of the Cayman Islands National Recovery Fund.
Bradford Kopp, Butterfield’s President & Chief Executive Officer said, “Over the past several months, as the Bank worked to address significant organisational challenges including the need to secure additional capital, I have worked closely with Michael and Conor. They are professional, experienced and highly regarded bankers, and I have been very impressed with their knowledge of the local markets for which they have been given responsibility. We are fortunate to have them on the Butterfield team.”
Mr. Kopp added, “Bermuda and the Cayman Islands are Butterfield’s two largest markets in terms of revenue generation, accounting for nearly 75% of the Bank’s revenues (before gains, losses and provisions for credit losses) in 2009. With Michael’s and Conor’s promotions to SEVP, we can better leverage their knowledge and experience in these key jurisdictions to continue to build market share.”
Editors Notes:
The Bank of N.T. Butterfield & Son Limited (“Butterfield”) is Bermuda’s first and largest independent bank, and a specialist provider of international financial services. The Butterfield group offers a full range of community banking services in Bermuda, Barbados and the Cayman Islands, encompassing retail and corporate banking and treasury activities. In the wealth management area, the group provides private banking, asset management and personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the Cayman Islands, Guernsey, Hong Kong, Malta, Switzerland and the United Kingdom. Butterfield also provides services to corporate and institutional clients from offices in Bermuda, The Bahamas, the Cayman Islands and Guernsey, which include asset management and corporate trust services. Butterfield is a publicly traded corporation with shares listed on the Bermuda and Cayman Islands stock exchanges. Further details on the Butterfield group can be obtained from our website at: www.butterfieldgroup.com.
Media Relations Contacts:
Mark Johnson
Assistant Vice President
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299 1624
Cellular: (441) 524 1025
Fax: (441) 295 3878
E-mail: markjohnson@bm.butterfieldgroup.com
Stuart Roberts
Bermuda Communications Manager
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 298 4610
Cellular: (441) 532 0143
Fax: (441) 295 3878