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The Bank of Butterfieldannounced that credit rating agency, Fitch, has affirmed Butterfield’s long-term issuer default rating (“IDR”) at A- and its short-term IDR at F1. The bank’s Rating Outlook remains Stable. “We are pleased that Fitch has affirme...

Butterfield Bank is looking to cash in on a boom in the London property market and gain a larger share of borrowers’ asset management and banking business. The Bermuda bank’s UK operation is among a growing number of foreign private banks entering th...

Butterfield Bank has agreed to sell its Barbados subsidiary, Butterfield Bank (Barbados) Ltd, to Trinidad and Tobago-based First Citizens Bank Ltd, in a deal worth around US$45 million. The bank said late yesterday that pending regulatory approval, t...

Butterfield’s new executive chairman Brendan McDonagh wants to develop a strategic direction that clearly sets out what the bank will look like in the next three to four years. Mr McDonagh, who sees himself as a full-time “extra pair of hands” to ste...

Veteran HSBC banker and Irishman Brendan McDonagh has officially been named the executive chairman of Butterfield where he will lead the bank’s continued turnaround. Mr McDonagh, along with Olivier Sarkozy, were also elected to the Butterfield board ...

Butterfield Bank hopes a programme to buy back up to $10 million of its shares will boost liquidity of the stock. “At the moment a significant number of shares are held by a limited number of institutions,” the new executive chairman of the bank, Bre...

Butterfield Bank made a profit of $14.7 million in the first three months of this year, a 75 percent increase over the same period last year, the bank announced late this afternoon. The January through March period was the bank’s fifth successive pro...

UK publication Euromoney has named Butterfield Bank as Bermuda’s best private bank in its 2012 Global Private Banking Survey. Butterfield was also ranked number one in Bermuda for “Relationship Management” and its “Range of Investment Products”. In ...

Carlyle Group, which owns an 18-percent stake in Butterfield bank, plans to float on the US stock market. The private-equity firm’s current owners, including the three founders, plan to keep their stakes when Carlyle holds its initial public offering...

Butterfield Bank’s shares have dipped below a dollar for the first time, but analysts we spoke to said the company remained solid. The share price closing at a new low of 99 cents last Tuesday was more “psychologically alarming” than anything, Nathan...