Bermuda-based Butterfield has added Victor Dodig to its board of directors, replacing John Orr as one of the Canadian Imperial Bank of Commerce’s two representatives on the 12-strong board.

The Canadian bank bought about one fifth of Butterfield in March last year.

Since March this year, Dodig is senior executive vice president at CIBC and group head of wealth management. He is responsible for the bank’s asset management, retail brokerage and private wealth management businesses.

Before joining CIBC in 2005, he was managing director and chief executive officer for UBS Global Asset Management in Canada. Earlier in his career, he spent five years as a managing director at Merrill Lynch, based in Canada, the US and the UK.

John Orr, who has completed a three-year term as chief executive at FirstCaribbean International Bank, CIBC’s majority-owned subsidiary, returns to the parent company as executive vice president of corporate development and strategy. Along with that reassignment, Orr left Butterfield’s board where he served as a director since April last year.

The Canadian bank’s second representative on the board is Richard Venn, managing director and deputy chairman of CIBC World Markets.