Butterfield Appoints Vice Chairman

Eliane Chavagnon

2 July 2012

Bermuda-headquartered Butterfield has named Barclay Simmons as vice chairman, replacing Robert Steinhoff, who retired on 1 May.

Since April 2011, Simmons has served on the bank’s board as a non-executive director and a member of both the risk policy and compliance, and compensation and human resources committees.

Other previous roles include managing partner of law firm Attride-Stirling & Woloniecki from January 2006; Simmons also formed part of the litigation team which founded ASW in 1999. Prior to that, he was an investment banker with Goldman Sachs in New York.

In other recent developments at Butterfield, last month the firm created a new legal team, appointing Shaun Morris as general counsel and group chief legal officer, and Benjamin Dyer as deputy general counsel.

Additionally, in May the bank announced an agreement to sell its wholly-owned Barbados subsidiary to Trinidad and Tobago-based First Citizens Bank. The deal, subject to regulatory approval, will complete in the third quarter of this year and comprise gross proceeds, subject to normal adjustments, of $45 million, the firm said in a statement at the time.

The same month, Alastair Barbour was hired as a non-executive director, replacing Robert Steihoff, who retired following the 2012 annual general meeting.