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1 October 2007
Butterfield Bank Opens Subsidiary in Geneva, Switzerland

Butterfield Bank is pleased to announce that it is enhancing its activities in the Swiss wealth management market with the establishment of a new wholly owned subsidiary in Geneva, Butterfield Trust (Switzerland) Limited.

 

Graham Brooks, Executive Vice President, Butterfield Bank said the formation of Butterfield Trust (Switzerland) Limited represented a further step in the Bank's strategy of increasing its European private client business and capability.

 

"Having entered the Swiss wealth management arena with the establishment of Butterfield Asset Management (Switzerland) Limited in Zurich last year, we are now complementing our existing capability in Switzerland with the establishment of Butterfield Trust (Switzerland) Limited which will provide fiduciary, trust and company administration services." Mr. Brooks said. "This builds on our Group's heritage as a leading provider of international fiduciary services and further extends the services we provide to our clients from key European private banking centres, which also include Butterfield Private Bank in London and  our well-established business in Guernsey, Channel Islands."

 

Jim Parker will lead Butterfield Trust (Switzerland) Limited and has been appointed Butterfield Bank Group's Country Head for Switzerland, with overall responsibility for the Group's activities in Switzerland, including Zurich-based Butterfield Asset Management (Switzerland) Limited. Mr. Parker is a leading figure in the Swiss wealth management industry, having been Head of Wealth Structuring for Barclays Private Bank and Director, Wealth Advisory for Barclaytrust (Suisse) S.A.  He previously held senior positions in wealth management and trust services in Switzerland with both Citigroup and Chase Manhattan Private Bank.

 

Mr. Parker will be joined by Phil Lenz as Deputy Country Head.  Mr. Lenz comes to Butterfield Trust (Switzerland) Limited from Barclays Wealth, where he was Chief Administration Officer.

 

Butterfield Trust (Switzerland) Limited can be contacted on +41 79 204 4968 and plans to establish offices in Geneva before the end of the year.

 

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. 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: www.butterfieldbank.com.

 

Investor Relations:

 

Richard Ferrett
Chief Financial Officer
Phone: (441) 299 1643
Fax: (441) 295 1220
E-mail: richardferrett@bntb.bm

 

Media Relations:

 

Mark Johnson
Marketing & Communications
Phone: (441) 299 1624
Fax: (441) 295 3878
E-mail: markjohnson@bntb.bm

 

Stuart Roberts
Marketing & Communications
Phone: (441) 298 4610
Fax: (441) 295 3878
E-mail: stuartroberts@bntb.bm

 

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