First Bermuda Group has appointed Bermudian Jonathan Clipper as its new chief executive officer.

Mr. Clipper, who has broad international experience in banking, succeeds Jeff Conyers, who has been at the helm of FBG since its launch 20 years ago.

The change at the top comes as talks aimed at a merger between FBG and Bermuda Commercial Bank continue.

Mr. Clipper is chairman and managing director of Headland Management Ltd. in Bermuda, a company incorporated earlier this year, a role which he will maintain while acting as FBG CEO.

From January 2005 to March 2010, he was deputy chairman and managing director of Bedford Management Ltd., also in Bermuda.

Prior to that he held several senior management roles at Bank of Bermuda, now HSBC Bermuda. He spent 12 years at Citibank in Hong Kong, Scotland and London and more than ten years at Chase Manhattan Bank in London, Australia, New Zealand, Singapore and Brunei.

In his new role, Mr. Clipper will be responsible for directing the operations of the company. He will also be responsible for strategic planning, ensuring the company meets its statutory obligations and maintaining the company's vision and values.

Mr. Clipper will also be in charge of the company's relationships with external stakeholders such as the Government, trade bodies, the media and the general public. He will report to the board of directors.

FBG chairman Eugene Bean said: "Jonathan's track record of over 30 years of experience in the financial services industry, the majority of which he has spent as a banker, will provide an excellent foundation to steer First Bermuda Group as it continues to grow and seek new opportunities. I am delighted to welcome him onboard and am confident that he will bring great value to our clients.

"At the same time, I would like to thank Jeff Conyers who has successfully led this company for almost 20 years since its inception.

"He has made many valuable contributions to the firm and I am delighted that he has agreed to provide consultancy services to the Board as we make the transition in leadership at the company. He will also continue to be involved with First Bermuda Securities BVI Ltd. focusing on corporate finance and special projects."

Mr. Clipper holds a Master of Philosophy in business administration from Oxford University, which he attended as a Bermuda Rhodes Scholar and an Honours Degree in Biology from the University of York. He is a Fellow of the Institute of Chartered Secretaries.