The Tribune

Butterfield Bank and its international subsidiaries, including the Bahamas, has received three Financial Centre Awards from Citywealth, the UK-based publisher of wealth management industry news and directories.

Butterfield was named Private Bank of the Year – Caribbean; Trust Company of the Year – Caribbean; and Trust Company of the Year – Switzerland.

The Bermuda-headquartered institution was also named ‘Runner Up’ to Legis Group in the category Trust Company of the Year – Guernsey.

In January, Butterfield announced it had reached an agreement in principle to acquire Legis Group’s Guernsey-based trust and fiduciary services business, subject to regulatory and other approvals, which is expected to be completed during the first quarter 2014.

Brendan McDonagh, Butterfield’s chairman and chief executive, said: “We are pleased to have been recognised by our peers in the wealth management sector with these prestigious awards.

“Wealth management businesses are important at Butterfield, and these awards demonstrate that our people and services are among the most respected in the industry. We congratulate our private banking teams in Bermuda and the Cayman Islands, and our trust teams in Bermuda, the Cayman Islands and the Bahamas, Switzerland and Guernsey on receiving these honours.”

Bob Moore, Butterfield’s executive vice-president and head of group trust, added: “It is a great accomplishment to receive these awards. Butterfield’s focus has been on the development of a cohesive global trust business that provides exemplary client service and bespoke solutions that draw upon our multi-jurisdictional expertise and presence.

“These awards highlight the depth and strength of our teams’ expertise, and their commitment to client service.”