New Butterfield Bank CEO: Brendan McDonagh
The Bank of N.T. Butterfield & Son Limited today [Aug 31] announced that Brendan McDonagh, who was previously Executive Chairman, has been appointed Chairman & Chief Executive Officer with immediate effect.
Mr. McDonagh joined Butterfield in January 2012 as Executive Chairman Designate and was officially appointed to the position of Executive Chairman in May 2012.
Bradford Kopp, President & Chief Executive Officer and a Director of the Bank, has retired. Mr. Kopp joined Butterfield in 2009 as Chief Financial Officer and was appointed to the position of President & Chief Executive Officer in March 2010.
A statement from the Bank said: “The Bank’s Board of Directors wishes to thank Mr. Kopp for his many contributions to Butterfield. As Chief Financial Officer, Mr. Kopp played a key role in the 2010 recapitalisation of the Bank. During his tenure as President & Chief Executive Officer, Butterfield returned to profitability and now is well positioned for future growth.”
Another one???? They don’t last for five minutes there. What’s the problem with this Bank?
Do you really have to ask?
This is the same guy who was in charge at HSBC North America when they got into money laundering trouble. Seems like a natural fit to lead a bank in an international business center.:)
BNy the way, he’s Irish. Wonder if his work permit application was waived?
No!
Just left the Southampton Princess.Every PLP big wig there for a big party .Saw Ministers who were fired and demoted,laughing and snubbing their noses to us common folk.I hope this is not on our tab.The AG needs to check the expense reports for August 31 2012.$200 bottles of wine were being delivered to every table.
I couldn’t pay my electric bill today.
$200.00 bottles of wine is what it’s all about! The perks of power for the PLP/BIU Party.
Hopefully he finds a way to improve the value of those darn common shares..
Nice dream, pal…
Is he the one responsible for that ridiculous $1 “service charge” per month if you’re one of the MAJORITY not lucky enough to have a regular balance of $24k….
I have heard that a lot of people are very upset by the ridiculous charge of having to pay for a savings account and are moving to another bank.
What does the banquet at the South P have to do with the Bank’s new appointment?
My thoughts exactly..