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The total value of merger and acquisition deals in Bermuda topped $70 billion in 2018, more than double the previous year’s tally, a report released today by offshore law firm Appleby found. The island was home to four deals of more than $5 billion...

Bermudian-licensed fintech companies finally have an option for US banking services. Signature Bank, a New York-based full-service commercial bank, will aim to fill the void left by local banks who have shied away from the fledgeling sector. David Bu...

US multinationals’ entities in Bermuda declared profits of $24.9 billion in 2016 — or $45 million per employee. That is the finding of the US tax authority, the Internal Revenue Service. In its latest country-by-country statistics, the IRS breaks dow...

Butterfield Bank will be “intensely focused” on reducing expenses in the higher-cost jurisdictions where it has operations, during the next six months. Automation, and moving aspects of its business to Canada and Mauritius, are among cost-reduction m...

Somers Ltd posted a $16.8 million loss in the last three months of last year, driven by a decrease in the market value of its investments and currency fluctuations. The loss resulted in a 4.6 per cent decrease in Somers’ net asset value per share dur...

Financial-services consulting firm Oyster Consulting (Bermuda) Ltd has hired Ann Daniels. She will be providing consulting services with an emphasis on anti-money laundering, countering finance of terrorism and risk compliance. Ms Daniels brings mo...

An American technology company has launched a platform designed to provide liquidity for a planned digital-asset exchange in Bermuda. Fundamental Interactions Inc’s product allows an automated market maker to refactor quote feeds from an active exter...

Somers Ltd has agreed to the conditional sale of its majority stake in UK firm Stockdale Securities Ltd to Shore Capital Markets Ltd in a deal worth up to £4.9 million ($6.3 million). The move follows Somers’ agreement to sell Bermuda Commercial Bank...

Drinks giant Bacardi is on the rock for good, its chief executive has promised. Mahesh Madhavan said that the Cuban-founded company was committed to Bermuda as its global headquarters. Mr Madhavan added: “We have completed 157 years of the company — ...

When Sharon Jacobs and Lynette Smith started at HSBC Bermuda they never imagined they’d spend the next 50 years there. “I was just excited to have my first job,” Ms Smith said. The year was 1968. The company was still known as the Bank of Bermuda, h...