At the 104th Annual General Meeting (“AGM”) of The Bank of N.T. Butterfield & Son Limited (“Butterfield Bank”) held on 16 April 2007, three new Directors were appointed to the Butterfield Bank Board: Graham C. Brooks, Sheila A. Lines and Patrick Tannock.
Graham C. Brooks.
Mr. Brooks is Executive Vice President, International at Butterfield Bank where he is responsible for strategy, mergers, acquisitions and divestitures and for all Butterfield Bank offices outside of Bermuda, comprised of The Bahamas, Barbados, Canada, the Cayman Islands, Guernsey, Hong Kong, Malta, Switzerland and the United Kingdom. Mr. Brooks also has responsibility for Butterfield Bank Group’s Fund Services businesses.
Mr. Brooks joined Butterfield Bank in 1989 as Managing Director of the Bank’s Guernsey operations and was promoted to his current position in 1997. He has 50 years of experience in UK domestic and international financial services, having worked previously for The Royal Bank of Scotland and Barclays Bank. He holds designations from the Institute of Bankers and the Institute of Personnel Management.
Sheila A. Lines
Ms. Lines is currently the Chief Executive Officer of KeyTech Limited, a diversified telecommunications group, having held the position of Chief Financial Officer of KeyTech Limited from 2002 to 2006. Prior to joining KeyTech Limited she held a number of financial roles in Bermuda companies in the information and communication technology sector.
Ms. Lines completed her professional training in the UK as a Chartered Accountant with Deloitte & Touche and subsequently worked at JP Morgan’s London office where she qualified as Associate Corporate Treasurer. She relocated to Bermuda with her family in 1997. She is a member of the Executive Committee of the Chamber of Commerce and of the Board of the Bermuda International Business Association.
Mr. Tannock serves as Executive Vice President of ACE Bermuda as well as Chief Underwriting Officer and Director of the company’s specialist directors & officers subsidiary Corporate Officers & Directors Assurance Ltd. (CODA). He is a member of the executive team and a trustee of the ACE Foundation.
Mr. Tannock has over 25 years of experience in the international insurance and reinsurance industry. Prior to joining ACE Bermuda in 1993 he held executive brokerage positions with Marsh & McLennan.
Mr. Tannock is currently a member of the Outstanding Directors (ODX) Advisory Board, the newly created Financial Intelligence Agency Board, and also serves as a Vice President of the Association of Bermuda International Companies (ABIC). Mr. Tannock has also served as co-chair of the Bermuda PLUS (Professional Liability Underwriting Society).
He holds a Bachelor of Science degree in business administration Cum Laude with a major in insurance and finance from the University of Hartford and a certificate of participation in the Executive Management Program from the Graduate School of Business at Stanford University.
Robert J. Stewart, who served on the Board for 20 years and who was Vice Chairman, retired following the AGM, as he is approaching the Board’s retirement age.
Robert Steinhoff, who has been a member of the Board since 2004, replaces Mr. Stewart as Vice Chairman.
At the AGM, shareholders also approved an increase in the Bank’s share capital to BD $260 million by the creation of an additional 160 million new ordinary shares of par value BD $1.00. The Bank’s ‘three for one’ stock split in August 2007, along with the recent stock dividend, pushed the number of issued shares to 98.4 million, approaching the previously approved share capital of $100 million. Therefore, the increase in share capital facilitates the possibility future stock splits, stock dividends or similar corporate actions.
All other items noted on the AGM agenda were also approved at the meeting.