Brian Duperreault has stepped down as non-executive chairman from the Butterfield Bank board in a reshuffle which sees Robert Mulderig take over the post.

Mr. Duperreault, who has been a member of the board since 1996 and non-executive chairman since April 2007, will retire from the board following his appointment as the president and CEO of insurance brokerage Marsh & McLennan.

Mr. Mulderig, who has also been a member of the board for the past 12 years, is a former chairman and CEO of Mutual Risk Management Ltd. He is also a director of several international financial companies.

Robert Stewart, vice-chairman, will retire from the Butterfield Bank board following the bank's annual general meeting in April. Robert Steinhoff, a director since 2004, has been appointed by the board to fill the post of vice-chairman upon Mr. Stewart's retirement.

Mr. Steinhoff is a former senior partner of KPMG in Bermuda and a director of Argus Group Holdings Ltd.

Alan Thompson, president & CEO of Butterfield Bank, said: "Having accepted a demanding position as the chief executive at Marsh in New York, Brian Duperreault felt that he could no longer dedicate an appropriate level of time and energy to the Butterfield Bank board, and he has today (yesterday) tendered his resignation, which was accepted by the board.

"On behalf of the management team, I would like to congratulate Brian on his new role and thank him for 12 years of service to the bank.

"I would also like to thank Bob Stewart for his contributions to the board over the last 20 years in a variety of important roles. I also congratulate Robert Mulderig and Bob Steinhoff on their new appointments, and am confident that they will do an exemplary job leading the board and helping move the bank forward in their roles as chairman and vice-chairman."