Ascendant Group Announces Board Changes
At the Annual General Meeting of shareholders on Friday [May 31], retirements from Ascendant Group Limited’s Board of Directors were announced and new appointments were approved.
Reginald S. Minors, Chairman of the Board, announced that J. Michael Collier is retiring from the Board, having been a Director since 1989, and having served as Chairman from 2004 until 2012.
Stanley A. Oliver, a Director since 2004, has also retired from the Board.
Mr. Oliver is the retired Head of Civil Service in Bermuda, while Mr. Collier retired as President & Chief Executive Officer of The Bank of N.T. Butterfield & Son Limited.
Mr. Minors said, “Ascendant Group has benefitted in myriad ways over the years from the experience and knowledge that these two men have brought to the table. We have enjoyed working with them, and we are extremely grateful for their service, wise counsel and dedication to furthering the company’s progress.”
Joining the Board of Directors are A. Shaun Morris and Alasdair Younie. Mr. Morris is General Counsel and Group Chief Legal Officer at The Bank of N.T. Butterfield & Son Limited. Prior to joining Butterfield Bank, Mr. Morris was Managing Partner at Appleby (Bermuda) Limited, Barristers and Attorneys.
He holds a Masters Degree in Economics and a Bachelor of Laws from the London School of Economics. In addition, he is a former Director of the Bermuda Monetary Authority and past Chairman of the Board of Governors of CedarBridge Academy.
Mr. Younie is a Director of ICM Limited, a Bermuda-based fund management company. He is a chartered accountant with experience in corporate finance and investment, having worked previously in corporate finance at Arbuthnot Securities Limited and PricewaterhouseCoopers in London.
Mr. Younie is a Director of Bermuda National Limited, Bermuda First Investment Company Limited and West Hamilton Holdings Limited.
Walter M. Higgins, Ascendant Group President & CEO, said, “Over the past 12 months, we have undertaken a thorough assessment of the skills that will be required for the Board to govern Ascendant Group successfully in a changing marketplace.
“We are, therefore, pleased to welcome Mr. Morris and Mr. Younie, each of whom brings needed expertise to the Board.”
He added, “Earlier this year, we also welcomed to the Board Michael L. Schrum, who is Chief Financial Officer at HSBC Bank Bermuda. We are confident that the three new Directors will help to guide Ascendant Group successfully through challenging new waters.”
