Michael Collier has retired as deputy chairman of Bermuda Commercial Bank’s parent company Somers Ltd.

Mr Collier will also retire from the board of directors and Duncan Saville has been appointed as a new director, Bermuda Stock Exchange-listed Somers said today.

A career banker and former chief executive officer of Butterfield Bank, Mr Collier retired as chairman of Bermuda Commercial Bank five months ago after four years in the role.

Mr Saville is a director of ICM Ltd, Somers’ investment adviser. He is a chartered accountant and a non-executive director of Infratil Ltd, New Zealand Oil & Gas Ltd and West Hamilton Holdings Ltd.

Somers chairman Warren McLeland said: “Michael has provided wise counsel to the Somers board since the company was incorporated in 2012. His experience in the financial services sector has been invaluable as Somers has developed. We wish him well in his retirement.

“We are very pleased that Duncan has agreed to join the Board of Somers and we look forward to his contribution as we look to continue Somers’ growth.”

Mr Collier said: “I have thoroughly enjoyed my time on the Somers board and being part of the pleasing development since its formation. I wish the company all the best in the future.”