Butterfield Bank (Bahamas) Limited (a wholly-owned subsidiary of Bermuda-based The Bank of N.T. Butterfield & Son Limited) today announced that, with effect from 1 June 2011, Robert Lotmore, who is currently Managing Director, will take on the position of Chairman of the Board of Butterfield Bank (Bahamas) Limited. Julien Martel, who is currently the head of Butterfield’s Trust & Fiduciary Services business in The Bahamas, has been appointed Managing Director, Butterfield Bank (Bahamas) Limited.
In The Bahamas, Butterfield provides Trust, Fiduciary and Corporate Services from offices in Nassau. Its team of 35 professionals specialises in the development of customised financial structures—including private trust companies, trusts, foundations and company structures—for succession and estate planning, wealth preservation, asset protection and tax mitigation. The Bahamas is an important financial centre and a key part of Butterfield’s five-jurisdiction network of Trust services.
In his new role as Chairman, Mr. Lotmore will work closely with Butterfield management and members of the Board to oversee the ongoing development of Butterfield’s business in The Bahamas. Mr. Lotmore, who is a chartered accountant with over thirty years of financial services experience, joined Butterfield in 2003 upon the Bank’s acquisition of Thorand Bank & Trust, of which he was one of the principals.
Conor O’Dea, Butterfield’s Senior Executive Vice President, Caribbean, said, “Robert was instrumental in Butterfield’s successful expansion into The Bahamas and the subsequent acquisition and integration of two additional companies in the jurisdiction.” He continued, “I would like to thank Robert for his many contributions to Butterfield during his time as Managing Director. I am pleased that the Bank will continue to benefit from his experience and knowledge by having him serve as our country Chairman.”
In his new role as Managing Director, Mr. Martel will have day-to-day responsibility for the overall management of Butterfield’s Bahamas operations. Mr. Martel joined Butterfield in 2000 following the Bank’s acquisition of ANZ Banking Group’s Guernsey operation, where he was Senior Manager, Client Relationship Management. At Butterfield, Mr. Martel built a large global private client base and, from 2003 to 2006, led the Private Banking team in Guernsey before relocating to The Bahamas. In 2009, he joined the Board of Butterfield Bank (Bahamas) Limited and in 2010 was named Head of Trust & Fiduciary Services.
Mr. O’Dea, said “Julien has been a great contributor to our Bahamas operations and to Butterfield Group overall. He has a depth of experience in private wealth management and is highly regarded by our clients and his peers. We look forward to continuing to grow our trust and fiduciary business in The Bahamas under Julien’s leadership.”