The former managing director of Butterfield Asset Management, Peter Wignall, has initiated legal action against the Bank of N.T. Butterfield.

Butterfield Asset Management (BAM) is a wholly owned subsidiary of the Bank of Butterfield.

The writ, which was filed in the Bermuda Supreme Court, indicates legal action has been taken by Mr. Wignall, who was also a Bank of Butterfield senior vice-president, against his former employer, the Bank of Butterfield. Mr. Wignall is understood to have left his employment at the Bank earlier this year.

The Royal Gazette understands that the legal firm Mello, Jones & Martin are representing Mr. Wignall in the action. Attempts to contact the parties involved were unsuccessful.