Veteran communications man Peter Smith has retired as head of Corporate Communications at the Bank of Bermuda after nine years in the post. Previously, he spent almost two decades with the Department of Tourism, his last job as Assistant Director of Tourism, Head of Marketing.

His retirement signals a number of changes in the Corporate Communications division of the bank. It will now be called the Marketing division and will be responsible for all marketing functions for the bank.

The bank is now in the process of hiring a Head of Marketing for Bank of Bermuda in addition to a Press and Internal Communications Manager. Karen Madeiros, who helped guide media relations during last year's buyout by HSBC, has become the bank's new Community Affairs Manager.

Bakery directors elected

Bermuda Bakery shareholders yesterday elected seven directors of the company for the year 2005.

They are David A.J. White, David P. Gutteridge, W. Roger Davidson, Reid T. Young, Peter Pearman, Glenn M. Titterton and B.W. “Jordy” Wlaker.

Marsh completes sale

(Bloomberg) - Marsh & McLennan Cos., the insurance broker that paid $850 million to settle bid-rigging accusations this year, completed the sale of its MMC Capital buyout unit.

Marsh sold the investment company to the unit's managers, who changed the name to Stone Point Capital LLC, Marsh said yesterday in an e-mailed statement.