HSBC Bank of Bermuda's former chief operating officer Michael Collins has joined rivals Butterfield Bank as executive vice-president of corporate development.

In his new role, Mr. Collins, who has 25 years' experience in financial services, including Bermuda Commercial Bank and HSBC in Bermuda and JP Morgan in New York, will work with the board of directors and the management team on a number of strategic initiatives involving product development, revenue opportunities and risk management, among other areas.

Alan Thompson, Butterfield Bank's president and CEO, said: "We are pleased to welcome Michael to the Butterfield family. He brings with him a depth of experience in international and Bermudian financial services, as well as strong leadership skills that will be assets to our organisation.

"He will be a strong complement to our already strong management team."