The Tribune

The Bank of Butterfield has changed the name of its Nassau-based subsidiary from Butterfield Bank (Bahamas)to Butterfield Trust (Bahamas).

The move is intended to reinforce its commitment to offering trust and fiduciary services from the Bahamas.

Bob Moore, Butterfield’s executive vice-president and head of group trust, said: “The multi-jurisdictional capability that we offer clients in the field of international fiduciary business is fundamental to our approach.

“We see the Bahamas as a key component in this regard, strengthening our position in our chosen markets. The name change demonstrates our commitment to the Bahamas as a jurisdiction and its integral role in our strategic plans for growth.”

Julien Martel, managing director of Butterfield Trust (Bahamas), said: “Our focus continues to be on service excellence. This includes an emphasis on developing well-trained people with relevant professional qualifications obtained, for example, through the Society of Trust and Estate Practitioners and other educational bodies.

“This provides our staff with the necessary skills and expertise to administer the wide range of services and solutions available in the Bahamas.”

In 2011, as part of a growth strategy centred on investment in core businesses and markets, Butterfield realigned its trust businesses, enabling it to better leverage resources across the group. Butterfield offers trust services from six countries - the Bahamas, Bermuda, Cayman Islands, Guernsey, New Zealand and Switzerland.