Butterfield makes senior management appointments

HAMILTON, Bermuda–(BUSINESS WIRE)–The Bank of NT Butterfield & Son Limited (“Butterfield”) (NYSE: NTB | BSX: NTB.BH) today announced the promotion of Michael Schrum to President and Group Chief Risk Officer. Craig Bridgewater has been promoted to Group Chief Financial Officer and joins the Executive Committee.

Mr. Schrum, who has served as Group Chief Financial Officer since 2015 and Executive Director since 2020, succeeds Sabeth Siddique, Group Chief Risk Officer, who will leave Butterfield at the end of May and remain available in an advisory role. Mr. Bridgewater, who has served as Group Head of Finance since 2019, assumes the role of Group Chief Financial Officer.

Michael Collins, Chairman and Chief Executive Officer of Butterfield, said: “Congratulations to Craig and Michael on their new appointment. As industry professionals with extensive experience and services to Butterfield, their knowledge and oversight will be valued as we continue to implement our strategy for long-term growth.

“I thank Sabeth for his contributions and thought leadership. In addition to managing our credit exposure during pandemic-related uncertainties and economic recession, the risk management improvements he has made have been effective and will continue to serve us well.”

Mr. Schrum has over 25 years of financial services experience in London, New York and Bermuda. He joined Butterfield from HSBC in Bermuda, where he was Chief Financial Officer. He is a CFA Charterholder (CFA Institute) and a Fellow Chartered Accountant (Institute of Chartered Accountants in England and Wales).

Mr. Bridgewater was previously a partner at KPMG where he worked for 18 years in both Bermuda and the US and worked at Orbis Investment Management Limited and Price Waterhouse (now PricewaterhouseCoopers). He is a Fellow of the Chartered Professional Accountants of Bermuda and Canada.

About Butterfield:

Butterfield is a full service bank and wealth manager headquartered in Hamilton, Bermuda, serving clients in Bermuda, the Cayman Islands, Guernsey and Jersey, where our main banking operations are located, as well as the Bahamas, Switzerland, Singapore and the UK provides where we provide specialized financial services. Banking services include deposit, cash management and lending solutions for retail, business and institutional customers. Wealth management services consist of escrow, private banking, wealth management and custody. We offer both banking and wealth management in Bermuda, the Cayman Islands and Guernsey. We offer select wealth management services in the Bahamas, Singapore and Switzerland. In the UK we offer home loans. We offer select banking and wealth management services in Jersey. Butterfield is publicly traded on the New York Stock Exchange (symbol: NTB) and the Bermuda Stock Exchange (symbol: NTB.BH). For more details on the Butterfield Group please visit our website at: www.butterfieldgroup.com.

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