Bank of Bermuda gets new CCO

The Bank of Bermuda has appointed Andy Burrows as Chief Credit Officer.

Mr. Burrows will be primarily responsible for the credit risk management of the bank's balance sheet and for the alignment for its credit and risk functions to HSBC Group standards.

Other principal responsibilities will include, the management of the Credit Risk Management division; overseeing and driving full compliance and adoption of Group Credit and Risk Policies and Procedures; the integration of HSBC group credit and reporting systems; assisting with credit training and and providing assistance to bank divisions, in the structure of complex lending situations.

He will be the primary liaison for Bank of Bermuda to HSBC Group Credit and Risk in London, where he has recently spent six weeks.

Philip Butterfield, Chief Executive Officer, Bank of Bermuda said, “ We are particularly pleased with Andy's appointment as it represents a promotion from within our organisation. As a spouse of a Bermudian Andy knows the local market and his leadership and guidance are essential ingredients for our future business success.”

Mr. Burrows joined the bank in May, 2003 from the Bahamas where he gained 15 years of banking experience.

He was previously with CIBC and Barclays Bank PLC. In April 2004 he was appointed to the position of Credit Approval Manager for the Bank of Bermuda.

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New position for Lenzen

ACE Bermuda has appointed John C. Lenzen executive vice president, general counsel and secretary at ACE Bermuda. His appointment is subject to approval from the Bermuda Department of Labour and Immigration.

Mr. Lenzen will serve as chief legal officer with responsibility for all of ACE Bermuda's legal affairs and will assume management responsibility for the company's Legal and Claims Departments. He will report to Rees Fletcher, President and Chief Executive Officer of ACE Bermuda

Mr. Fletcher said: “John has played a significant role in managing our claims department as well as litigation and I am delighted to be working with him in his new position. His business acumen, claims experience and expertise in insurance law will be important assets to ACE Bermuda's operations.”

Mr. Lenzen previously served as senior vice president, claims and claims counsel for ACE Bermuda. Prior to joining ACE in March 2002, he practised insurance law at the New Jersey law firm of Connell Foley LLP. He earned his Bachelor of Arts at Rutgers College, his Juris Doctor at Rutgers University School of Law - Newark, and his Master of Business Administration, with High Distinction and emphases in Finance, Corporate Strategy and Business Economics, at the Ross School of Business at the University of Michigan. He is admitted to practice law in New York, New Jersey and Michigan.

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Award for Aruda

Coldwell Banker JW Bermuda Realty has announced that rental representative Gail Aruda was recently awarded the Certified International Property Specialist (CIPS) designation. The CIPS Designation is awarded by the National Association of REALTORS (NAR), which has a membership of over 1,000,000 in the United States. Ms. Aruda will be formally recognised at the NAR's Midyear Legislative Conference & Trade Expo in Washington, D.C. on May 12. She joins a world-wide referral network of elite global real estate practitioners with expertise in working with international clients as well as immigrants.

The CIPS designation recognises members who have achieved the necessary training and experience to work successfully with international clients and properties and Ms Aruda completed rigorous coursework devoted to learning cultural differences and international business practices. Designees must also prove achievement in international real estate transactions.

Ms Aruda is now a member of distinguished society of more than 1,200 real estate professionals throughout the world who have earned the CIPS designation, including three colleagues from Coldwell Banker JW Bermuda Realty; Kim Webb, Jack Kripl and Cesa Edwards.

“This is a highly prestigious award in our industry,” said Carmela Ma, CIPS, NAR International Operations Committee Chair. “Gail Aruda is now established as an expert in international real estate.”

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New MD for Appleby Trust

Appleby Trust has announced expansion in the Cayman's and the appointment of a new managing director in Bermuda.

Huw Moses, the managing partner of the Appleby Spurling Hunter Cayman office, manages Appleby Trust (Cayman) Ltd. which commenced operations on February 11. The office now has more than 20 professionals on staff and on March 1 added Ansbacher (Cayman) Ltd's fiduciary business to its rapidly expanding growing portfolio of major clients.

On April 1 in Bermuda, Pearline Trott took over as Managing Director of Appleby Trust (Bermuda) Ltd. She succeeds outgoing Managing Director, John Harper, who has been the Managing Director for more than five years.

Appleby Spurling Hunter Group Managing Partner, Peter Bubenzer said: “The Partners and staff of Appleby are pleased to see Pearline's successful transition from Deputy Managing Director to Managing Director. We saw great potential in Pearline when she joined the Appleby Trust team and are delighted to now see it realised. We have full confidence in her ability to continue the high level of professionalism and integrity, and the effective management that John Harper has maintained over the past years in which he has managed Appleby Trust (Bermuda).”

Mr. Bubenzer continued, “We are sad to see John leave Appleby Trust, but are very pleased that he will continue to serve as the Managing Director of Reid Management Limited.”

Prior to joining Appleby Trust in 1996, Ms Trott worked both at Butterfield Trust (Bermuda) Limited and Bermuda Trust Company Limited. She received a Diploma in Arts & Science (with merit) from the Bermuda College and a Bachelor of Arts Degree in Business from Acadia University in Canada. She later attended the City Banking College in London, England and is the first Bermudian to attain the highly accredited designation of Associate of the Chartered Institute of Bankers. She is also a graduate of the Central Law Training Programmes where she successfully completed the Foundation Certificate and Diploma in International Trust Management with Distinction.

She has more than ten years experience in the trust industry and is also the former Chair of the Bermuda Branch of the Society of Trust and Estate Practitioners and currently sits on the STEP Caribbean Regional Committee.