The Bank of N.T. Butterfield & Son Ltd. has announced it has completed the purchase of the bank to the stars, Leopold Joseph Holdings Plc. in London.

Bank of Butterfield last month got shareholder approval from the exclusive bank, which is the bank of the Rolling Stones and Cat Stevens, and yesterday the deal was sealed in London.

The bank was bought for the ?51.5 million ($93 million) put forward in the offer of February and Bank of Butterfield said that the conditions of the offer had been satisfied.

"Leopold Joseph is now a member of the Butterfield Group," said Bank of Butterfield president and chief executive officer Alan Thompson in a press statement. "The acquisition of Leopold Joseph strengthens our UK and Guernsey operations by broadening our client base and building our private banking presence in both locations.

"With skilled employees and a shared commitment to excellent customer service, the businesses are a very good fit and we look forward to working with our new colleagues."

Mr. Thompson flew to London last week after Bank of Butterfield's annual general meeting to complete the deal and to meet with staff.

Before leaving he did not rule out job cuts at the London bank, but would not be drawn on the subject.

Shareholders at the UK private banking company accepted the deal with 90.9 percent approval in March and the deal was declared unconditional, the bank said.

The bank announced in February that it had put in an offer for the top-shelf private London bank with a long list of well-heeled clients.

The deal with Leopold Joseph ? which was founded in 1919 ? will bring the number of staff globally at Bank of Butterfield to over 1,500 as well as a long list of wealthy clients.

It will also make the bank a direct competitor of the Queen's bank, Coutts and Co., and will give the Bermuda bank plush offices in the City of London, the financial district in London.

The London bank, which also has offices in Guernsey, was put up for sale in September, and a rigourous bidding and auction process with more than 30 companies after the prize, Bank of Butterfield won out.

Leopold Joseph, which was floated in 1971, said it did not have the resources to pursue opportunities as an independent entity.

In February, Robin Herbert, chairman of Leopold Joseph said: "Following an extensive strategic review, the board of directors of Leopold Joseph believe that the offer by Bank of Butterfield represents the most attractive means of realising value for Leopold Joseph's shareholders."

The bank has discreetly looked after the money of the wealthy for decades and was the bank of choice for the showbiz set in the 1960s, according to the London Evening Standard.

Mr. Thompson said that because of the value of the Leopold Joseph name, Bank of Butterfield would be keeping the name and adding Bank of Butterfield to the nameplates.