Butterfield Bank (UK) Limited Announces Board Appointments
Hamilton, Bermuda and London, England—28 November 2012: The Bank of N.T. Butterfield & Son Limited (“Butterfield”) today announced that Mr. John Wright has been appointed Chairman of the Board of Directors of its wholly-owned subsidiary, Butterfield Bank (UK) Limited. In addition, Mr. Nigel Buchanan, CVO, FCA, an existing non-executive Director at Butterfield Bank (UK) Limited, has been appointed Chairman of the Audit, Risk Policy and Compliance Committee. Both appointments were effective 14 November 2012.
Mr. Wright is a career banker with strong experience in UK and international markets, including assignments in India, Sri Lanka, West Africa, Canada, Hong Kong and the United States. He was formerly Chief Executive of Oman International Bank for seven years, Chief Executive of the Northern and National Irish Banks in Ireland for five years, Chief Executive of the Gulf Bank in Kuwait and finally Chief Executive of Clydesdale & Yorkshire Banks prior to retirement.
Mr. Wright has served as a non-executive Director on the Butterfield Group Board and the UK Board since 2002. He is also a non-executive Director of the UK Government Export Credit Agency (ECGD) and a visiting professor at University of Glasgow Business School. He is a past President of the Irish Institute of Bankers and a past Vice President of the Chartered Institute of Bankers in Scotland.
Mr. Wright is a Fellow of the Chartered Institute of Bankers in Scotland and the Chartered Institute of Bankers in Ireland.
Mr. Buchanan served as a Senior Client Partner of PricewaterhouseCoopers until 2001, having joined the firm in 1968 and being named a Partner in 1978. He led PwC’s financial services practice across Europe for ten years.
Mr. Buchanan joined the Board of Leopold Joseph Holdings PLC in 2001 prior to its acquisition by Butterfield in 2004. He is also a senior, independent, non-executive Director of Amlin PLC and serves as a Director of Amlin Underwriting Limited.
Mr. Buchanan was a member of the Ethics Standards Board of the Accounting Foundation until it was superseded in 2002. He is also a former Trustee of The Outward Bound Trust.
Mr. Buchanan is co-author of Accounting for Pensions and the Euromoney Debt Equity Swaps.
Raymond Sykes, Managing Director of Butterfield Bank (UK) Limited, said, “We are pleased that John has accepted the position of Chairman. He is well respected within Butterfield and across the industry for his knowledge and leadership experience in international banking. Nigel, too, has earned the respect of his peers as a skilled and knowledgeable accounting professional. The continued presence and perspectives of both gentlemen on our Board, along with their extensive knowledge of Butterfield, will serve Butterfield Bank (UK)
Limited well as we continue to develop and enhance our private client services and do our part to help rebuild Shareholder value in Butterfield Group.”
The composition of the Board of Directors of Butterfield Bank (UK) Limited is as follows:
John Wright (Chairman)
Nigel Buchanan, CVO, FCA
Managing Director, Butterfield Bank (UK) Limited
Senior Executive Vice President, International Banking