The Board of Directors of The Bank of N.T. Butterfield & Son Limited (“Butterfield” or “the Bank”) today announced that Barclay Simmons has been appointed Vice Chairman, filling the role vacated by Robert Steinhoff upon his retirement on 1 May 2012. Mr. Simmons has served on the Bank’s Board as a Non-Executive Director and a member of the Risk Policy & Compliance and Compensation & Human Resources Committees since April 2011.
Mr. Simmons was appointed Managing Partner of law firm Attride-Stirling & Woloniecki (“ASW”) in January 2006. Prior to re-joining ASW, he was an investment banker with Goldman Sachs & Company in New York. Mr. Simmons was part of the litigation team that founded ASW in 1999.
Outside of ASW, Mr. Simmons’ focus is on the financial services industry and he serves as a director on several boards in this space. In addition to serving as a Director at Butterfield, Mr. Simmons is a Director at Argus Group Holdings Limited, where he sits on the Investment Committee, a Director at the Bermuda Monetary Authority, where he is Chairman of the Investment Committee, and a member of the five-person Public Funds Investment Committee.
Mr. Simmons holds an MBA from the Harvard Business School and an LLB (Hons) from the University of Kent at Canterbury. He was called to the Bar of England & Wales in 1997 and the Bermuda Bar in 1998.
Brendan McDonagh, Butterfield’s Executive Chairman, said, “We are pleased that Barclay has accepted the position of Vice Chairman of the Board. His professional experience in law, investment banking and regulatory matters, along with his direct involvement in helping shape the current strategy for enhancing Shareholder value, made Barclay the ideal candidate for the position.”
Mr. Simmons said, “Serving on Butterfield’s Board during a key period in the Bank’s recovery has been an exciting and rewarding experience. I am honoured that my fellow Directors have chosen to appoint me Vice Chairman, and I look forward to continuing to work with them in developing Butterfield’s key businesses, ensuring the Bank continues to adhere to world-class governance protocols and building value in the franchise for the benefit of all of the Bank’s stakeholders.”