Richmond has 21 years of experience in managing trust structures for ultra-high net worth families across multiple jurisdictions. He was previously head of the family office of Bermuda Trust Company (BTCL), a subsidiary of BTBL. He is a director of BTCL and also sits on several boards, foundations and private trust companies. 

In his new role, Richmond will take over the management of Butterfield’s trust business in Bermuda, reporting to the group's head of trust, Bob Moore.

“We wish Martin every success in his future career and thank him for his contribution to the development of Butterfield’s trust business,” said Moore.

Earlier this year, Butterfield announced the closure of its London-based private bank, saying it had not achieved sufficient scale.