Finance Monthly CFO Awards 2019 Winners Edition

www.finance-monthly.com 19 Finance Monthly CFO Awards 2019 Finance Monthly CFO Awards 2019 COUNTRY BERM DA BERMUDA COMPANY PROFILE Butterfield is a full-service bank and wealth manager headquartered in Hamilton, Bermuda, providing services to international clients from Bermuda, the Cayman Islands, Guernsey and Jersey, where its principal banking operations are located, and The Bahamas, Switzerland, Singapore and the United Kingdom, where we offer specialised financial services. Established in 1858 as Bermuda’s first bank, and with a commercial history that extends back a further 100 years, Butterfield has always specialised in the provision of bespoke services, delivered with a highly personal touch. Today, the bank’s dedicated relationship managers draw upon the full range of services offered by Butterfield globally to craft tailored financial solutions for international private individuals, trusts, partnerships, pensions and large institutional clients. Butterfield’s parent company, The Bank of N.T. Butterfield & Son Limited, is publicly traded with share listings on the Bermuda Stock Exchange (NTB.BH ) and the New York Stock Exchange (NTB). Butterfield’s vision is to be the world’s leading, independent offshore bank and trust company. It is making solid progress toward achieving that goal through targeted acquisitions, investment in its people, emphasis on operational efficiencies, and an unrelenting focus on regulatory compliance. The last few years have been a period of strategic growth and change for Butterfield. The banks has expanded its global footprint by establishing offices in Canada, Mauritius, Singapore and Jersey, and now has operations in ten international locations. Following its Public Offering on the New York Stock Exchange in 2016, the company’s shareholder base is now also global. In July 2019 Butterfield completed the acquisition of ABN AMRO (Channel Islands) Limited, the Channel Islands-based banking subsidiary of ABN AMRO Bank N.V. and continues to combine the business into its existing Guernsey bank. Butterfield’s combined and expanded banking presence in Guernsey and Jersey now represents a substantial part of the group’s banking business and supports the bank’s view of the Channel Islands as a leading international financial centre and a growth market for Butterfield. Butterfield is pursuing a strategy to maintain a strong capital position and promote long-term growth, with an emphasis on core earnings and cash return on tangible equity to drive sustainable improvements in shareholder value. A central tenet of that strategy is to build upon the company’s relationship-based business approach by delivering exceptional client services. Now, I want to do the same for others through mentoring and sponsoring; I believe that continuous learning with a strong focus on change management is one of the most important parts of my role as a CFO, both by personal commitment and sharing with others. What would you say are some of the challenges connected to being a group CFO? The main challenges to the role are balancing jurisdictional and group priorities with resource deployments and providing adequate progression opportunities in a relatively small market, as well as being small and nimble at all layers of the group, while maintaining a robust control framework across multiple jurisdictions with different legal, currency and cultural contexts. What goals are you currently working towards? At the moment I’m working on full operational integration of the recent ABN AMRO acquisition in the Channel Islands – this was a significant and very important strategic step for the group. We’re also working on creating a transparent and responsive framework to meet current and future financial and non-financial management information reporting requirements. These are evolving and we’re using data architecture to support decision- making capabilities across all jurisdictions, from relationship managers to the CEO. Tell us about the work you do for Danish citizens and companies in Bermuda. To keep a healthy work-life balance, I enjoy my role as Honorary Danish Consul to Bermuda, which entails assisting Danish citizens and residents in Bermuda as well as Danish companies with trade-related enquiries. Additionally, I serve as the current Chairman for the Bermuda Community Foundation, which seeks to provide services to the third sector and identify charitable needs and funding sources to and in the community. Can you add a few words about your award and what it means to you? It’s a great honour to receive the Finance Monthly CFO Award and to be recognised by my peers in the financial services industry. I read the magazine regularly and find it thoughtful and interesting. Q Q Q Q