Bank in shares buyback

The Bank of Bermuda bought back almost 300,000 of its shares in December, it has reported to the Bermuda Stock Exchange.

The bank said it bought back a total of 294,029 of its common shares at an average price of $32.92 per share.

And the Bank of Butterfield has informed the BSX that the bank or its subsidiaries bought back and cancelled a total of 1,600 of its own shares at an average price of $30.50.

The repurchases were made under the share repurchase programme announced January 5, 2000.

Forum to administer Comerica funds

Investment fund administrators the Forum Financial Group has taken over servicing operation for three offshore funds sponsored by Comerica Institutional Trust.

Forum, which has operations centres in Bermuda and Portland, Maine, provides fund administration, including fund accounting, transfer agency and corporate secretarial services for the equity, fixed-income and money market funds.

Ede Conyers, general manager of Forum Fund Services in Bermuda, said: "Comerica's choice of Forum for their offshore fund administration is gratifying, and we are pleased to be recognised by Comerica as a versatile provider uniquely qualified to service their diversified needs."

Forum Business development director David Goldstein said: "To better serve Comerica, Forum is providing daily fund accounting from our headquarters in Portland, Maine, where daily fund processing is the norm.

The integration of our services from both Portland and Bermuda allows us to service clients like Comerica in the most efficient and effective manner with no client impact."