Wendall Brown to be Nominated for Butterfield Directorship
Hamilton, Bermuda—21 March 2013: The Board of Directors of The Bank of N.T. Butterfield & Son Limited (“Butterfield” or the “Bank”) today announced that Mr. Wendall Brown will be nominated for election as a Director of the Bank at the Annual General Meeting of Shareholders on 1 May 2013.
Mr. Brown is Chairman and President of BDC2000 Limited, the parent company of Bermuda General Agency Limited (“BGA”) and The Phoenix Stores Limited (“PSL”). BGA is a major wholesaler in Bermuda with local distribution rights for leading brands of consumer goods. Established in 1902, PSL is a retailer of health and beauty supplies operating six pharmacies across the island and the Brown & Co. department store in Hamilton.
Mr. Brown is a Director of Argus Group Holdings Limited, where he sits on the Risk and Compensation Committees. He also sits on the boards of several privately held Bermudian companies. Mr. Brown is a past Chairman of the Bermuda Hospitals Board and the Board of Trustees of the Golf Courses (Bermuda).
Mrs. Pauline Richards, Director and head of Butterfield’s Corporate Governance Committee of the Board, said “We are fortunate that, contingent upon his election at the AGM, Mr. Brown has agreed to join the Bank’s Board. Mr. Brown is a seasoned director and successful entrepreneur with a wealth of local business experience. The Board feels that having the perspective of a Bermudian businessman of Mr. Brown’s standing in the Boardroom will be advantageous to the Bank as it seeks to continue to build value and grow its businesses.”
Mr. Brendan McDonagh, Butterfield’s Chairman & Chief Executive Officer, said, “I look forward to having Mr. Brown join Butterfield’s Board. As a successful retailer and wholesaler, I know he has a first-hand appreciation for the essential role the Bank plays in supporting local commerce. He is a champion of Bermudian business who has high expectations of Bermuda’s banking industry. I expect that he will be a strong advocate for the Bank’s business stakeholders upon his election to our Board.”