The Bermuda-headquartered banking group has appointed a familiar face to lead its wealth management business in Guernsey.

Butterfield Bank (Guernsey) has appointed Richard Saunders as interim managing director and head of wealth management for Guernsey.

Saunders, who joined Butterfield as senior manager and head of the Guernsey investment team in 2000, was most recently head of European asset management, responsible for discretionary management for private client portfolios. He will take the reins from current managing director, John Robinson, who will retire at the end of September. Saunders has also sat on the bank’s asset management executive committee.

"Richard is a very experienced Senior Executive and has been highly effective as our Head of the Asset Management team in Guernsey and latterly Europe,” said Butterfield Group's president and chief operating officer, Conor O’Dea.

“I am confident that, with his investment knowledge and leadership experience within the business, Richard is the right choice for Interim Managing Director and Head of Wealth Management in Guernsey, and that he will be key to the ongoing development of our Guernsey business.”

Butterfield, which has had a presence in Guernsey for over 40 years, provides private banking, lending and fiduciary services, discretionary investment management, custody, and administered banking services.