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Local Business

"BCB profits more than double to $7.45m"

Bermuda Commercial Bank (BCB) yesterday reported its yearly profit more than doubled to $7.45 million from $2.60 million a year ago. The bank’s total assets increased by $40.03 million to $572.01 million from $531.98 million in 2011. BCB, which bec...
Dec 07, 2012
Reinsurance

"XL Re hires Wenzel as capital markets SVP"

Bermuda-based XL Re has announced the appointment of Craig Wenzel as senior vice-president, Capital Markets. In this newly created role, Mr Wenzel will be responsible for managing and developing relationships with third-party capital providers in su...
Dec 07, 2012
Local Business

"KeyTech revenues slide by $4.2m"

KeyTech Limited’s profits are down this year according to the company’s interim earnings results just released today. The company’s operating profit for the first six months of this year was $6,816,069 compared to $9,133,389 in the first six months ...
Dec 06, 2012
Other

"BA extends seat sale"

British Airways has extended its seat sale to December 12, offering roundtrip sale fares in World Traveller economy from $840, including all taxes and fees. Customers can travel outbound until December 16, 2012 and then again from December 24 to Marc...
Dec 05, 2012
International Business

"Butterfield renames Bahamas business"

Butterfield Bank has announced that it has changed the name of its Nassau-based subsidiary from Butterfield Bank (Bahamas) Ltd to Butterfield Trust (Bahamas) Ltd to reinforce its commitment to offering trust and fiduciary services from the Bahamas to...
Dec 04, 2012
Local Business

"Butterfield names Wright as chairman of UK subsidiary"

Butterfield has announced John Wright has been appointed chairman of the board of directors of its wholly-owned subsidiary, Butterfield Bank (UK) Ltd. In addition, Nigel Buchanan, a non-executive director at Butterfield Bank (UK), has been appointed ...
Nov 30, 2012
Local Business

"HSBC Bermuda cuts close to ten jobs"

HSBC Bermuda has made close to ten employees redundant as the bank continues to assess its business model. According to a statement from HSBC: “As we continue to assess the business and align with target operating models, we have had to reduce a numb...
Nov 30, 2012
Reinsurance

"Validus to close on Flagstone deal by end of week"

Validus Holdings is poised to close on its acquisition of Flagstone Reinsurance Holdings by the end of this week. Shareholders of FlagstoneRe yesterday morning voted to approve the company’s merger with Validus Holdings. More than 99 percent of the...
Nov 29, 2012
International Business

"Walsh named as chairman of Butterfield in Guernsey"

Butterfield Bank announced that Peter Walsh has been appointed chairman of the board of directors of its wholly-owned subsidiary, Butterfield Bank (Guernsey) Ltd. Mr Walsh is a broadly experienced leader in financial services, with an international c...
Nov 28, 2012
Local Business

"Phishing scam uses real Butterfield employee details"

Butterfield Bank has been targeted in another online e-mail scam, this one using the real name and contact details of an actual bank employee. This fraudulent e-mail correspondence asks customers to update their security questions on their online acc...
Nov 28, 2012
Other

Digicel hired for $1.76m Turks & Caicos govt job

Digicel in the Turks & Caicos has been hired to carry out a $1.76 million IT systems upgrade for the islands’ government. The TCI government said the upgrade would save around $62,000 per month, or $3.7 million over the five-year term of the contrac...
Nov 27, 2012
Other

"BA flight diverted to Bermuda"

A British Airways flight en route from St Lucia to London was diverted to the LF Wade International Airport because a passenger was suffering from seizures. Inspector Andy Morgan said Police were contacted at 11.20pm about the flight. “A 60-year-old ...
Nov 23, 2012
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