The Bank of N.T. Butterfield & Son Ltd. has announced the opening of a new office in Barbados.

Peter Wignall, Bank of Butterfield Senior Vice President of Asset Management and Managing Director of Butterfield Asset Management (BAM) said: "By establishing Butterfield (Barbados) Ltd, we are building on our core strengths in the area of asset management to expand our client base.

"Barbados is an ideal market for us because, like Bermuda and Cayman, it is a significant domicile for captive insurance companies, as well as international business and trusts. We have experience and expertise in meeting the investment needs of these types of clients."

Caroline Prow, vice president of Butterfield (Barbados) Limited who heads up the new office said: "I look forward to working with our team in Bermuda and Cayman to extend BAM's first class investment management service to clients in Barbados."

Located in the Belleville Corporate Centre, St. Michael, Butterfield (Barbados) Ltd. offers corporate clients the asset management services currently offered through Bank of Butterfield in Bermuda with strong focus on liquidity and fixed income investment management.