The top executive at the Bank of Butterfield’s operation in the Caymans is to retire in April.

Conor O’Dea, president, chief operating officer and managing director of Butterfield Bank in Cayman, will move to the post of non-executive chairman and his job will be taken by Mike McWatt, who is deputy managing director of the bank.

Michael Collins, Butterfield’s chief executive officer, said: “During Conor’s tenure, Butterfield Cayman has grown significantly from a relatively small bank of about 60 people to become the jurisdiction’s leading full-service community bank, employing nearly 300 staff.

“In his role as head of international banking and latterly president and COO, Conor has also successfully overseen the strategic evolution of Butterfield’s European and Caribbean businesses, leading the integration and harmonisation of key functions globally.”

Mr O’Dea, who joined Butterfield’s Caymans operation in 1989, will stand for election to the bank’s group board of directors as non-executive director.

He said: “I am delighted to have been nominated for election to the group board and to have been appointed chairman of the Cayman board, where I will continue to be involved in helping shape the future of Butterfield.”