Philip Butterfield Retires As HSBC Bermuda CEO
Philip Butterfield formally retires as HSBC Bermuda CEO today [May 10] with Richard Moseley taking over the helm. Mr. Mosley has been with the bank for approximately three years and the HSBC Group for 32 years.
Mr Butterfield steps down as HSBC Bermuda CEO after eight years, but will be staying with the international financial institution in his new role as chairman of its board of directors.
Yesterday Premier Paula Cox welcomed Mr. Butterfield and Mr. Moseley to the Cabinet Office. During the visit, Premier Cox thanked Mr. Butterfield for both his “pioneering leadership at HSBC and for his commitment and service to Bermuda.” She also extended her well wishes to the 40-year banking veteran as he embarks on the next step in his career.
Mr. Butterfield was appointed Chief Executive Officer of HSBC Bermuda in February 2004. 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 Banks 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 in New York, which he joined in 1972 entering the Banks 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.
So now we have the island’s 2 biggest banks with non-bermudian ceo’s.just reinforces the idea that london and toronto now call the shots.
Good thing the 2 smaller banks are still in the hands of local byes!
He was the Token!
A Golden Handshake if ever there was one !
Platinum…………………
And this is news because!?
One might say it’s news because the CEO of the Island’s leading financial services institution (and largest private employer) is retiring and transitioning to the position of Chairman, and said institution is now under new leadership. Changes in leadership of our economy’s big players ultimately touch us all, in one way or another…hence this topic’s newsworthy status.
Phil Butterfield is a Bermudian who took responsibility for his future many years ago, and has had an incredibly successful career as a result of his own hard work. Other Bermudians should aspire to walk a similar path, and set their standards as high.
You all have short memories. It was on this man’s watch that many Bermudians were let go from this bank. He made a good life for himself however a lot of Bermudians were sent packing and lost their jobs. If there had been an expat C.E.O. in charge there would have been more of an outcry. He was being used as the “Black Bermudian” in charge to make everything rosier than it was!
Why does the fact that Bermudians were let go mean that Phil Butterfield stepping down is not news?
And having to let people go is not something that any CEO wants to have to do, but the harsh realities of the current environment mean that it is sometimes unavoidable.
Congratulations Phil on all you have accomplished while at the helm. I will not let any negativety stop me from providing our clients with excellent customer service. I will not loose the Bermudian tradition. I have learned a great ordeal of values and consider myself priveldged to be able to listen to all your valuable messages. You will be greatly missed.
I will always remember to ” Make Excellent Customer Service A Reality”