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A Bank of N. T. Butterfield & Son Limited Announcement
In a brief time, Mr Tugwell was able to help cut costs, eliminate redundancy, and institute management programmes to develop new business initiatives for Butterfield around the world.
Therefore, I am sad to say that Mr. Tugwell will be leaving the Bank for personal reasons at a date to be mutually agreed and will be pursuing other interests in the United States.
We have already begun the process to search for a successor who will continue the market and investment strategies that are helping the Bank of Butterfield be a leading financial institution.
Sir David Gibbons
Chairman of the Board