Butterfield Named As HSBC Chairman
Businessman Philip Butterfield today [Dec.5] announced his plans to step down as HSBC Bermuda CEO in 2012 after eight years at the helm of the bank but he will be staying with the international financial institution in his new role as chairman of its board of directors.
Richard Moseley, Deputy CEO, will be appointed CEO effective 10 May, 2012 following Mr. Butterfield’s retirement. Mr. Mosley will have been with the bank for almost three years and the HSBC Group for 32 years.
Mr. Butterfield [pictured] was appointed Chief Executive Officer of HSBC Bermuda in February 2004. He is responsible for all lines of business within the bank and chairs the bank’s executive and senior management committees.
Prior to this he held the position of Chief Operating Officer with responsibility for the direction and oversight globally of Operations, Systems, Human Resources, Audit, Compliance, Legal Affairs and Program Management Office. Mr. Butterfield is a member of the BankÂ’s Executive Management Committee.
Mr. Butterfield joined the bank in June 2000 as Chief Administration Officer. Before joining the bank, he held a number of senior positions with Citibank, which he joined in 1972 entering the BankÂ’s Management Training Programme. His experience includes Private Banking, Corporate Banking, Operations and Technology, Human Resources.
He is chairman of the Bermuda Hospitals Charitable Trust, a member of the steering committee for Bermuda First, president of Bermuda Health Foundation, chairman of the Advisory Committee for the Bermuda Environmental Alliance, chairman of the Victor Scott School Alumni Association, a board member of Johns Hopkins Medicine and the American Classical Orchestra.
His retirement was announced by HSBC chairman John Campbell, who simultaneously said he did not intend to stand for reelection at the bank’s annual general meeting to be held on 10 May, 2012.
Chairman for the last seven years, Mr. Campbell has served on the bank’s board for 25 years.
Mr. Campbell also said board member Dennis Tucker was retiring after 17 years and his place will be filled by Brian Robertson, Chief Executive, HSBC Bank, plc and an HSBC Group Managing Director effective January 1, 2012.
……and the HSBC take over will finally be complete.
HSBC is controlled by foreigners. Bank of Butterfield is controlled by foreigners. And we have PLP to thank!!!!! PLP love foreign suits more than their own people. Bend over and take it suckaaahs!!!!! PLP have brought the Bermuda takeover to bear.
Man, I miss the Bank of Bermuda.
I miss Triminghams! I am sure I will miss the open space that is going to be build as Tuckers Point too!
“World’s Local Bank” in Bermuda now being run by a foreigner. Priceless! Was an ad run for CEO? Don’t recall seeing it.
A text book case of How Stupid Bermudians Capitulated . HSBC in a nutshell .
They were not stupid Bermudians. Their Golden Parachutes were very large. Too bad there will be nothing left for the rest of us though.
Good riddance – truly his brother’s brother. RIP Eldon.
Phil’s to do list:
Sell SUV
Get ticket to Oak Bluffs
Buy cheap trinket for bro
Attend welcome home to the USA party thrown by Bro
The TOKEN black man
HSBC had plans for Bermuda long ago, and knew that all they had to do was get in bed with the Government, throw a few trinkets to the natives, hire a Bermudian to oil the machinery and then move in!
Butterfield has served their purpose and now has his reward. A seat at the table.
Mission accomplished!
LOL Bermuda is for sale! Only the sucker bottom feeders aren’t allowed to sell out. We are stuck with our big morgage, big bills, and can’t sell to anyone but other bottom feeders…..that guy on top is so big, he’s squashing us all on the bottom….literally
The hate you all display is precisely why the best and brightest of our number stay abroad. Who could want to return to you bitter, nasty and ignorant people? One of our own, a Bermudian enjoys the confidence of one of the world’s largest financial institutions and all you can do is pour scorn? How pathetic. Your vitriol is why young black men shy away from professions and jobs that drive this economy; they don’t want to run the risk of being a target as you have made Mr. Butterfield. This man from Middletown has made good internationally and that is not worthy of your praise? How sick. Did you ever stop and think that the old Bank of Bermuda, along with Smiths and Trimminghams are extinct because they failed? This guy succeeded; perhaps that is his crime. Crabs in a barrel the lot of you. No wonder the House is populated by ex-cons, failed business-people and other assorted losers….you deserve them.
OMG!
Guess what…
I totally agree with you..
Amazing…mark the date my “friend…”