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29 March 2007
Best of the Best winner collects $20,000 Money Market Fund Investment from Butterfield Bank

On 27 March, Butterfield Bank presented Jimmy O’ Connor,winner of the ‘Visitor Industry Partnership’ (VIP) Excellence Awards, with a $20,000 investment in the Butterfield Market Money Fund.

 

In order to receive the award, Mr. O’Connor, who is a cruise operator and former rock singer, had to beat out 440 other nominees, 54 of whom made it through to the finals of the VIP Awards held at the Fairmont Southampton on 9 March.


On the night of the awards, sponsored by Bermuda Electric Light Company (BELCO) and supported by the Bermuda Department of Tourism, Mr. O'Connor won in the 'Activities and Attractions' category, but was ultimately deemed to be the 'Best of the Best' of the Bermuda Hospitality Industry.


This week Mr. O’Connor came into Butterfield Asset Management Limited (BAM) to open his Money Market Fund (MMF) account. The MMF is one of the safest investments offered (AAAm rated by Standard and Poor’s – one of the highest credit qualities attainable) and is available in four currencies: USD, CAD, EUR and GBP. The main features of this investment includes daily liquidity, the ability to receive and send wires, deposit cheques/drafts directly into the account, Butterfield Direct Internet Banking Access (for those registered for Internet Banking Access) with only a minimum initial investment requirement of $10,000.

Currently, the fund size is over $4.2 billion. The seven-day yield for the USD Class (as at 29 March 2007) is 4.9% annualised. Alistair Border, a Portfolio Manager of the MMF, received a top manager award from industry publication iMoneyNet in January 2007.


After opening his account at BAM, Mr. O’Connor was treated to a luncheon at Head Office with Alan Thompson, Butterfield Bank President & CEO and other special guests.

Mr. Thompson said: “It has been our pleasure to donate a $20,000 investment in the Butterfield Money
Market Fund to Bermuda’s ‘Best of the Best’ since the VIP Awards began seven years ago. We are pleased to support Bermuda tourism and help recognise excellence among those working in the industry. It is part of the focus on community that is at the heart of the culture of Butterfield Bank."

 

Note to Editors:
Butterfield Bank is Bermuda’s first and largest independent bank, and a specialist provider of offshore
financial services. The Butterfield Bank 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 and
personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the
Cayman Islands, Guernsey, Switzerland and the United Kingdom. For corporate and institutional clients, the Group provides investment and pension fund administration services, asset management and corporate trust services in Bermuda, The Bahamas, the Cayman Islands and Guernsey. Butterfield Bank is a publicly traded corporation with shares listed on the Bermuda and Cayman Islands stock exchanges. Further details on Butterfield Bank can be obtained from our web site at: www.butterfieldbank.com.

 

Media Relations Contact:

Mark Johnson
Communications Manager
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299-1624
Fax: 441) 295-3878
E-mail: markjohnson@bntb.bm

 

Stuart Roberts
Senior Communications Specialist
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 298-4610
Fax: (441) 295-3878
E-mail: stuartroberts@bntb.bm

 

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