The Bank of N.T. Butterfield & Son Limited (“Butterfield Bank”) today
announced the following Board changes.
Brian Duperreault, who has been a Member of the Board since 1996 and
non-executive Chairman since April 2007, will retire from the Board following
his appointment as the President and CEO of Marsh.
Robert A. Mulderig, who has also been a member of the Board since 1996,
has been appointed by the Board to take over as Chairman. Mr. Mulderig is
a former Chairman and Chief Executive Officer of Mutual Risk Management Limited.
He is also a director of several international financial companies.
Robert J. Stewart, Vice Chairman, will retire from the Butterfield Bank
Board following the Bank’s Annual General Meeting in April. Robert
Steinhoff, a Director since 2004, has been appointed by the Board to fill the
post of Vice Chairman upon Mr. Stewart’s retirement. Mr. Steinhoff is a
former Senior Partner of KPMG in Bermuda and a Director of Argus Group Holdings
Alan R. Thompson, President & CEO of Butterfield Bank commented on the
Board changes, saying, “Having accepted a demanding position as the chief
executive at Marsh in New York, Brian Duperreault felt that he could no longer
dedicate an appropriate level of time and energy to the Butterfield Bank Board,
and he has today tendered his resignation, which was accepted by the Board.
On behalf of the management team, I would like to congratulate Brian on his new
role and thank him for twelve years of service to the Bank.”
Mr. Thompson added, “I would also like to thank Bob Stewart for his
contributions to the Board over the last twenty years in a variety of important
roles. I also congratulate Robert Mulderig and Bob Steinhoff on their new
appointments, and am confident that they will do an exemplary job leading the
Board and helping move the Bank forward in their roles as Chairman and Vice
Tel: (345) 815-7549