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Butterfield Welcomes Michael Schrum as Group Chief Financial Officer

Hamilton, Bermuda—3 August 2015: The Bank of N.T. Butterfield & Son Limited (“Butterfield”) today announced the appointment of Michael Schrum as Group Chief Financial Officer with effect from 21 September 2015.

Mr. Schrum joins Butterfield from HSBC Bank Bermuda Limited, where he was CFO. He has more than 20 years of financial services experience in London, New York and Bermuda, mainly in banking, insurance and tax. He joined HSBC in Bermuda in 2001 and held progressively more senior positions within the bank’s Commercial Banking, Strategy, and Finance divisions. He is a Chartered Financial Analyst and a Fellow of the Institute of Chartered Accountants in England and Wales. Mr. Schrum holds Master’s (University of London) and Bachelor’s (Southern Denmark Business School) degrees in Economics.

Mr. Schrum is a director of Ascendant Group Limited, Treasurer of the Bermuda Community Foundation, and current Chairman of Pathways Bermuda. He lives in Bermuda with his wife, Vanessa, and their three children.

Brendan McDonagh, Butterfield’s Chairman & CEO, commented on Mr. Schrum’s appointment: “I am pleased to welcome Michael to Butterfield as our new Group CFO. With his extensive experience in local and international financial services management and his demonstrated leadership skills, Michael will be a great asset to our team.”

Mr. Schrum replaces John Maragliano who relocated to Canada at the end of July after more than 13 years with Butterfield.

This Release does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, in any jurisdiction, including without limitation the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. A public offering of securities in the United States, if any such offering is made, will be made by means of a prospectus that may be obtained from The Bank of N.T. Butterfield & Son Limited (“Butterfield”) containing detailed information about Butterfield  and management, as well as financial statements.
Butterfield is specialist provider of international financial services. The Butterfield Group offers a full range of community banking services in Bermuda, and the Cayman Islands, encompassing retail and corporate banking and treasury activities. In the wealth management area, the Group provides private banking, asset management, investment advisory and personal trust services from its headquarters in Bermuda and subsidiary offices in The Bahamas, the Cayman Islands, Guernsey, Switzerland and the United Kingdom. Butterfield also provides services to corporate and institutional clients from offices in Bermuda, The Bahamas, the Cayman Islands and Guernsey, which include asset management and corporate trust services.
Butterfield is publicly traded in Bermuda, and its shares are listed on the Bermuda Stock Exchange.  Butterfield’s share price is published daily in The Royal Gazette ( and is also available on Bloomberg Financial Markets (symbol: NTB BH) and the Bermuda Stock Exchange website (  Further details on the Butterfield Group can be obtained from our website at:



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