In making this announcement, Calum Johnston, President & CEO of the Bank of Butterfield Group stated "The Bank of Butterfield Group has a solid presence with able and committed personnel in Guernsey. The acquisition of ANZ Bank (Guernsey) Limited has presented an excellent opportunity for us to expand in that jurisdiction."
ANZ Bank (Guernsey) Limited was established in 1973 and had balance sheet footings of GBP255,849,000 ($419,592,000) as at its last financial year end, 30 September 1999. "We will be able to accommodate the newly combined business within our existing premises, using our existing systems in Guernsey" continued Mr. Johnston. "The acquisition of this mature business is in line with the Butterfield strategy of building on its existing core activities and strengths. We offer our clients a wide choice of private banking and investment management services including the award-winning Butterfield Funds."
Robert Moore, Managing Director of Bank of Butterfield International (Guernsey) Limited endorsed Mr. Johnston's comments adding that the personnel of ANZ Bank (Guernsey) Ltd will be joining the new structure and will provide continuity of service to the existing clients of ANZ Bank (Guernsey) Limited.
Continued/€¦
- 2 -
The acquisition was completed on Friday, 7th January 2000. ANZ Bank (Guernsey) Limited will be re-named The Bank of N. T. Butterfield & Son (Guernsey) Limited pending its amalgamation, prior to end of March 2000, with Bank of Butterfield International (Guernsey) Limited in which name the combined business will then operate.
The Bank of N.T. Butterfield & Son Limited, established in 1858 in Hamilton, Bermuda, has $4.6 billion in assets and over $30 billion of assets under administration. The Bank serves institutional and individual clients with a full range of banking, treasury, credit, investment, trust and custody services through its headquarters and four branches in Bermuda, as well as offices in Grand Cayman, Guernsey, Hong Kong and the United Kingdom. Bank of Butterfield common stock trades on both the Bermuda and Cayman Stock Exchanges.
For further information contact:
In Bermuda: Graham C. Brooks, Executive Vice President - International & Trust
The Bank of N.T. Butterfield & Son Limited
(441) 299 3917
In Guernsey:Robert Moore, Managing Director
Bank of Butterfield International (Guernsey) Limited
(01481) 711521