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Butterfield Names Michael Neff New Head of Group Asset Management
Hamilton, Bermuda ─ 15 February, 2011 – The Bank of N.T. Butterfield & Son Limited (the “Butterfield”; Ticker: NTB.BH) today announced that it has appointed Michael Neff as Executive Vice President, Head of Group Asset Management.
Mr. Neff has nearly 25 years experience in financial services, having held senior roles in wealth management client services and business development functions. He began his career at Chemical Bank’s Private Banking Group. Mr. Neff led the implementation of global sales and client relationship management (CRM) policies and processes at Citibank before leaving the firm to establish AnswerSpace Inc., a CRM and financial planning consultancy, in 1998. In 2001, he founded Monetaire Inc., a leading provider of financial planning and advice software that was acquired by RiskMetrics Group in 2004. At RiskMetrics, Mr. Neff served as Global Head of Wealth Management, Global Head of Client Implementations, Global Head of Client Services and Co-Head of Global Business Risk.
Mr. Neff will be on Butterfield’s Executive Team and will report to Bradford Kopp, Butterfield’s President & Chief Executive Officer. Mr. Neff will serve as head of Butterfield Asset Management in Bermuda and have overall responsibility for the Group’s asset management businesses located in Bermuda, the Cayman Islands, Guernsey and the UK.
Mr. Kopp said ”Michael has an impressive track record of leadership in client relationship management and a proven history as an entrepreneur. This background, along with his experience in risk management and asset management modeling and metrics, will be advantageous as he works to develop strategies and tactics to grow our asset management businesses and help us effectively manage our balance sheet.”
Mr. Kopp continued, “Asset management is an important business for Butterfield and an integral part of our wealth management offering, complementing private banking and trust services. Across the Group, we have $6 billion of assets under management—in Butterfield Funds and managed portfolios. Under Michael’s leadership, I am confident that business will continue to grow. I’m pleased to welcome him to our team.”
Mr. Neff will also join the Group’s Asset and Liability Committee (ALCO), which monitors the Bank’s balance sheet trends, liquidity, trading positions and off balance sheet, interest rate and exchange rate exposures.
Mr. Neff, who is a spouse of a Bermudian, holds a Bachelor of Arts from Middlebury College and a Master of Business Administration from Columbia Business School. He and his family reside in Warwick.
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:
Mark Johnson
Vice President, Communications, Brand & Public Affairs
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299 1624
E-mail: mark.johnson@butterfieldgroup.com
Stuart Roberts
Bermuda Communications Manager
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 298 4610
Fax: (441) 295 3878