Butterfield Asset Management Expands to Barbados

by Carla Johnson, Investors Offshore.com

24 September 2001

The Bermuda-based Bank of NT Butterfield & Son Ltd has announced the opening of a new office in Barbados entitled Butterfield (Barbados) Limited (BBL). The new office is the exclusive Barbados representative for the investment management services of Butterfield Asset Management Limited (BAM) a wholly owned subsidiary of the Bank of NT Butterfield & Son.

In a statement released by the Bank, Senior Vice President, Asset Management and Managing Director, Peter Wignall said: 'By establishing Butterfield (Barbados) Limited we are building on our core strengths in the area of asset management to expand our client base.'

He added: 'Barbados is an ideal market for us because, like Bermuda and Cayman, it is a significant domicile for captive insurance companies, as well as international businesses and trusts. We have experience and expertise in
meeting the investment needs of these types of clients.'

Established in 1858, the Bank of Butterfield Group offers a full range of banking, credit, investment, treasury,
trust and custody services through its headquarters in Bermuda and a focused range of offshore financial services to selected groups of customers in Cayman, Guernsey, Hong Kong, the UK and now Barbados.

Butterfield (Barbados) Limited will offer corporate clients the asset management services currently offered through Bank of Butterfield in Bermuda, with a strong focus on liquidity and fixed income investment management. 'I look forward to working with our team in Bermuda and Cayman to extend BAM's first class investment management service to clients in Barbados,' said Caroline Prow, Vice President, Butterfield (Barbados) Limited

An official opening celebration is due to take place on October 4, 2001.

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