Hashtag: #BermudaBanks

BMA Hosts FSB Shadow Banking Workshop

BMA Hosts FSB Shadow Banking Workshop

The Bermuda Monetary Authority hosted the Financial Stability Board’s [FSB] Regional Consultative Group of the Americas’ [RCGA] Shadow Banking Workshop on October 25 and October 26 at the Hamilton Princess. A spokesperson said, “FSB, an international body monitoring and making recommendations about the global financial system, defines shadow... Read more of this article

Clarien Bank Hurricane Drive Raises Over $25K

Clarien Bank Hurricane Drive Raises Over $25K

Clarien Bank today [Oct 25] announced that over $25,000 has been raised by the organization to support hurricane recovery. Hurricanes Irma and Maria left destructive paths of devastation throughout the Caribbean, and the Clarien Bank hurricane donation drive was established to support Red Cross relief efforts in the region. Clarien Bank Chief Marketing... Read more of this article

Butterfield Reports Third Quarter 2017 Results

Butterfield Reports Third Quarter 2017 Results

The Bank of Butterfield announced financial results for the quarter ended 30 September 2017. Third quarter core net income was $40.7 million, or $0.73 per diluted common share, compared to $37.5 million, or $0.67 per diluted common share for the second quarter of 2017 and $33.4 million, or $0.60 per diluted common share, for the third quarter of 2016. The... Read more of this article

Butterfield To Acquire Global Trust Solutions

Butterfield To Acquire Global Trust Solutions

The Bank of Butterfield has entered into an agreement to acquire Deutsche Bank’s Global Trust Solutions [GTS] business, excluding its US operations; terms of the agreement were not disclosed. A spokesperson said, “Upon completion of the transaction, which is subject to regulatory approvals, Butterfield will take over the ongoing management... Read more of this article

Butterfield Bank: Senior Management Restructure

Butterfield Bank: Senior Management Restructure

The Bank of Butterfield today announced the following changes within its senior management team structure. Daniel Frumkin, previously Group Chief Risk Officer, has been appointed to the new role of Group Chief Operating Officer. In this capacity, he will be responsible for the Group’s client-facing businesses, jurisdictions, technology, and operations. Andrew... Read more of this article

Former CIA Executive Director Joins Bank Board

Former CIA Executive Director Joins Bank Board

The Bank of Butterfield announced that Meroe Park has been appointed to its Board as a Non-Executive Director. “Ms. Park was most recently the Executive Director of the United States Central Intelligence Agency, serving as the Agency’s chief operating officer in its most senior career post,” the announcement said. “Prior to her... Read more of this article

Clarien’s Hurricane Donation Drive Continues

Clarien’s Hurricane Donation Drive Continues

Hurricanes Irma and Maria left destructive paths of devastation throughout the Caribbean, and as the region recovers from both storms, the Clarien Bank hurricane donation drive continues to accept donations in support of Red Cross relief and recovery efforts. Clarien Bank Chief Marketing Officer Michael DeCouto commented: “As thousands in the region... Read more of this article

HSBC Church St Line/Drive Through Changes

HSBC Church St Line/Drive Through Changes

At the HSBC Church Street branch transaction and customer wait times were “significantly longer at the dedicated Seniors’ teller than at the main teller line,” and a “decision was made to incorporate the Seniors’ teller into our main teller lines,” the Bank said. Following comments made at the recent town hall about the change... Read more of this article

Clarien Bank To Match Donations Up To $10K

Clarien Bank To Match Donations Up To $10K

Clarien Bank today [Sept 18] announced the launch of a donation drive to support recovery efforts in the Caribbean after the devastation caused by Hurricane Irma, with the Bank set to match donations up to $10,000. “Donations should be made directly to the Bermuda Red Cross account at Clarien Bank. The funds will support Red Cross societies from... Read more of this article

Graduate Trainees Join Bank Of Butterfield

Graduate Trainees Join Bank Of Butterfield

Recquel Furbert, Erik Simmons, and Lateefah Caines have joined the Bank of Butterfield 2017 Graduate Trainee Programme, which offers Bermudian university/college graduates the opportunity to acquire the skills and expertise they need to succeed in the financial services industry. Working closely with experienced bankers, Trainees will gain real-world... Read more of this article

Vivien Carter Joins Bank Of Bermuda Foundation

Vivien Carter Joins Bank Of Bermuda Foundation

Bank of Bermuda Foundation announced that Vivien Carter has joined the Foundation as its new Programme Officer with responsibility for grantee liaison, organisational learning and community outreach. “Vivien brings more than 15 years of leadership and experience in non-profit management, as well as youth and community development,” the Foundation... Read more of this article

Butterfield Bank Reports Second Quarter Profit

Butterfield Bank Reports Second Quarter Profit

The Bank of N.T. Butterfield & Son Limited today announced net income for the second quarter ended 30 June 2017, as well as changes in the composition of its Board of Directors. The Bank’s second quarter net income was $36.1 million, an increase of $0.2 million compared to $35.9 million earned in the first quarter of 2017. Core earnings for... Read more of this article

HSBC Reviewing To “Prevent Future Incidents”

HSBC Reviewing To “Prevent Future Incidents”

Following an email being sent to a “small number” of retail banking customers which “unfortunately included an attachment containing personal information of some of HSBC Bermuda’s customers,” HSBC said they “takes the security of its customers’ information extremely seriously” and are “currently reviewing... Read more of this article