The Bank of N.T. Butterfield & Son Limited (“Butterfield”) today announced that it has appointed Michael Neff as Executive Vice President, Head of Group Asset Management.
Mr. Neff has nearly 25 years experience in financial services, having held senior roles in wealth management client services and business development functions. He began his career at Chemical Bank’s Private Banking Group. Mr. Neff led the implementation of global sales and client relationship management (CRM) policies and processes at Citibank before leaving the firm to establish AnswerSpace Inc., a CRM and financial planning consultancy, in 1998. In 2001, he founded Monetaire Inc., a leading provider of financial planning and advice software that was acquired by RiskMetrics Group in 2004. At RiskMetrics, Mr. Neff served as Global Head of Wealth Management, Global Head of Client Implementations, Global Head of Client Services and Co-Head of Global Business Risk.
Mr. Neff will be on Butterfield’s Executive Team and will report to Bradford Kopp, Butterfield’s President & Chief Executive Officer. Mr. Neff will serve as head of Butterfield Asset Management in Bermuda and have overall responsibility for the Group’s asset management businesses located in Bermuda, the Cayman Islands, Guernsey and the UK.
Mr. Kopp said ”Michael has an impressive track record of leadership in client relationship management and a proven history as an entrepreneur. This background, along with his experience in risk management and asset management modeling and metrics, will be advantageous as he works to develop strategies and tactics to grow our asset management businesses and help us effectively manage our balance sheet.”
Mr. Kopp continued, “Asset management is an important business for Butterfield and an integral part of our wealth management offering, complementing private banking and trust services. Across the Group, we have $6 billion of assets under management—in Butterfield Funds and managed portfolios. Under Michael’s leadership, I am confident that business will continue to grow. I’m pleased to welcome him to our team.”
Mr. Neff will also join the Group’s Asset and Liability Committee (ALCO), which monitors the Bank’s balance sheet trends, liquidity, trading positions and off balance sheet, interest rate and exchange rate exposures.
Mr. Neff, who is a spouse of a Bermudian, holds a Bachelor of Arts from Middlebury College and a Master of Business Administration from Columbia Business School. He and his family reside in Warwick.