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12 February 2008
Butterfield Bank Announces Board Changes

The Bank of N.T. Butterfield & Son Limited (“Butterfield Bank”) today announced the following Board changes.


Brian Duperreault, who has been a Member of the Board since 1996 and non-executive Chairman since April 2007, will retire from the Board following his appointment as the President and CEO of Marsh. 


Robert A. Mulderig, who has also been a member of the Board since 1996, has been appointed by the Board to take over as Chairman.  Mr. Mulderig is a former Chairman and Chief Executive Officer of Mutual Risk Management Limited. He is also a director of several international financial companies.


Robert J. Stewart, Vice Chairman, will retire from the Butterfield Bank Board following the Bank’s Annual General Meeting in April.  Robert Steinhoff, a Director since 2004, has been appointed by the Board to fill the post of Vice Chairman upon Mr. Stewart’s retirement.  Mr. Steinhoff is a former Senior Partner of KPMG in Bermuda and a Director of Argus Group Holdings Limited.


Alan R. Thompson, President & CEO of Butterfield Bank commented on the Board changes, saying, “Having accepted a demanding position as the chief executive at Marsh in New York, Brian Duperreault felt that he could no longer dedicate an appropriate level of time and energy to the Butterfield Bank Board, and he has today tendered his resignation, which was accepted by the Board.  On behalf of the management team, I would like to congratulate Brian on his new role and thank him for twelve years of service to the Bank.” 


Mr. Thompson added, “I would also like to thank Bob Stewart for his contributions to the Board over the last twenty years in a variety of important roles.  I also congratulate Robert Mulderig and Bob Steinhoff on their new appointments, and am confident that they will do an exemplary job leading the Board and helping move the Bank forward in their roles as Chairman and Vice Chairman.”

Note to Editors:
Butterfield Bank is Bermuda’s first and largest independent bank, and a specialist provider of international 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, Hong Kong, Malta, Switzerland and the United Kingdom. The Group provides services to corporate and institutional clients from offices in Bermuda, The Bahamas, Canada, the Cayman Islands and Guernsey, which include investment and pension fund administration, asset management and corporate trust services. 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 website at:


Media Relations Contacts:  

Mark Johnson
Assistant Vice President
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299 1624
Fax: (441) 295 3878


Stuart Roberts  
Senior Communications Specialist
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 298 4610
Fax: (441) 295 3878






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