"By establishing Butterfield (Barbados) Limited we are building on our core strengths in the area of asset management to expand our client base. Barbados is an ideal market for us because, like Bermuda and Cayman, it is a significant domicile for captive insurance companies, as well as international businesses and trusts. We have experience and expertise in meeting the investment needs of these types of clients," said Peter Wignall, Bank of Butterfield Senior Vice President, Asset Management and Managing Director, Butterfield Asset Management Limited.
Located in the Belleville Corporate Centre, St. Michael, Butterfield (Barbados) Limited offers corporate clients the asset management services currently offered through Bank of Butterfield in Bermuda, with a strong focus on liquidity and fixed income investment management.
"I look forward to working with our team in Bermuda and Cayman to extend BAM's first class investment management service to clients in Barbados," said Caroline Prow, Vice President, Butterfield (Barbados) Limited, who heads up the new office. An official opening celebration will be held on October 4, 2001.
Note to Editors:
Butterfield Asset Management Limited (BAM), headquartered in Bermuda, offers a series of nine in-house managed mutual funds and a full range of discretionary and non-discretionary investment services. BAM currently has over five billion dollars under management.
For the past four years, BAM has won top performance awards from Standard & Poors (S&P) Micropal for its family of mutual funds, both for overall performance and specifically for the S&P AAAm rated Money Market Fund. The family of Butterfield Funds include Money Market, Bond, Equity and Balanced Funds, all listed on the Bermuda Stock Exchange and the Cayman Islands Stock Exchange. Butterfield Asset Management is licensed to conduct investment business by the Bermuda Monetary Authority. Further details are available at the BAM web site: www.bam.bm.
Bank of Butterfield Group is a vital community bank in both Bermuda and Cayman and a specialist offshore financial services company. Established in 1858, the Bank offers a full range of banking, credit, investment, treasury, trust and custody services through its headquarters in Bermuda and a focused range of services to selected groups of customers in Barbados, Cayman, Guernsey, Hong Kong, and the United Kingdom.
Bank of Butterfield is a publicly traded corporation with its shares listed on the Bermuda and Cayman Islands stock exchanges. The Bank's share price is published daily in The Royal Gazette and is also available on Bloomberg Financial Markets (symbol: NTB.BH) and The Bermuda Stock Exchange web site: www.bsx.com. Further details on the Bank can be obtained from its web site at: www.bankofbutterfield.com.