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Banking

Economy

"Butterfield Liquidity Fund to hold special meeting"

Directors of the Butterfield Liquid Reserve Fund Ltd - where investors’ money has been trapped for 18 months - have called a special general meeting of shareholders for February 8. The fund, which is managed by Butterfield Asset Management Ltd was ba...
Jan 19, 2011
Tourism

"Bank calls in the receivers to Newstead Belmont"

Newstead Belmont Hills Golf Resort went into receivership yesterday after Butterfield Bank recalled a multi-million dollar loan. The luxury Paget property will continue to run, although receivers Ernst and Young have not ruled out selling some, or al...
Jan 18, 2011
Other

"Butterfield managers named in Leaders List"

Five senior Butterfield Bank group representatives have been named in an annual Leaders List detailing highly regarded figures in the wealth management, private banking and legal sectors. In Guernsey, managing director Bob Moore was mentioned on the ...
Jan 14, 2011
Economy

"HSBC raises commercial lending rate by 0.25%"

HSBC Bank Bermuda Ltd. will be raising its commercial lending base rate by 0.25 percent for its business banking clients. The increase will effect only mortgages and loans held by business clients and is the first rate change in three years. A spokes...
Jan 11, 2011
Other

"Butterfield Bank has learned its lessons, says new CRO"

Butterfield Bank has learned its lessons from the huge losses it suffered in the wake of the global financial crisis and is working hard to show stakeholders that it has changed for the better. That is the message from the bank's new chief risk offic...
Jan 07, 2011
Other

"Butterfield Bank stages 411 student networking event"

Butterfield Bank held its sixth annual ‘Butterfield 411’ Student Networking Event at the Bermuda Society of Arts in City Hall. The objectives of the Butterfield 411 are to create opportunities for local high school graduates and college/university st...
Dec 24, 2010
International Business

"Fitch downgrades BCB's short-term credit rating"

Fitch Ratings yesterday said it downgraded the short-term issuer default rating of Bermuda Commercial Bank by one notch to F3, because of “a moderate shift” towards higher-risk investments. The ratings agency also affirmed BCB's individual rating at ...
Dec 24, 2010
Other

"BNTB appoints Daniel Frumkin as new chief risk officer"

Butterfield Bank has announced the appointment of Daniel Frumkin as executive vice-president and chief risk officer. Mr Frumkin is a career banker with a depth of experience in risk management, credit and retail banking. He joins Butterfield after 21...
Dec 21, 2010
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