Butterfield Names Jim McPherson New Head of Audit

Hamilton, Bermuda ─ 04 October, 2010 – The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”; Ticker: NTB.BH) today announced that it has appointed James McPherson Senior Vice President and Head of Group Internal Audit.

Mr. McPherson joins Butterfield from Noor Islamic Bank in Dubai where he established audit and risk review functions for the start-up bank in 2007 and subsequently led those functions as Head of Internal Audit and Business Review Risk for three years.  Prior to joining Noor, Mr. McPherson spent 18 years in increasingly senior roles at Citigroup in the US, Saudi Arabia, Belgium and Japan and an additional 18 years at Old Stone Bank of California and Bank of America Corporation.  Mr. McPherson is a Certified Internal Auditor.

At Butterfield, Mr. McPherson will be responsible for Group Internal Audit, overseeing Audit operations in all seven of Butterfield’s jurisdictions.  In this capacity, he will work closely with the senior management team, reporting to the Audit Committee of the Board of Directors.

Bradford Kopp, Butterfield’s President & Chief Executive Officer, said, “Jim is a well-respected international banker with over forty years of experience in audit, credit and consumer banking. We are pleased that Jim has agreed to put his experience to work for Butterfield as our new Head of Group Internal Audit.  I’m glad to have him on the team.”

Mr. McPherson and his wife have relocated to Bermuda from Dubai, UAE.

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, investment advisory and personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the Cayman Islands, Guernsey, 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 at Butterfield Bank:                                  

Mark Johnson            

Assistant Vice President

Phone: (441) 299 1624                       Cellular: (441) 524 1025

Fax: (441) 295 3878

E-mail: mark.johnson@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

E-mail: stuart.roberts@butterfeldgroup.com