The bank offers private banking, trust and asset management services from its headquarters in Bermuda and subsidiary offices in the Bahamas, the Cayman Islands, Guernsey, Hong Kong, Malta, Switzerland and the United Kingdom.

Although it did not give an overall figure for its wealth management segment, it reported an improvement in net income from wealth management activities in Bermuda, at $5.3 million for the half year compared with a loss of $816,000 the prior year.

Total deposits were $8.4 billion at 30 June 2010, down from $8.7 billion at the end of last year.

In other recents news, the UK arm of Butterfield Private Bank recently saw the departure of managing director George Bogucki after three and a half years. It is believed the departure of Bogucki, who initially joined the bank at the start of 2007, is due in part to the fact that M&A activity – an area in which he has particular expertise – is no longer a focus for the bank.

Raymond Sykes, director and head of private banking at the firm, took over Bogucki’s responsibilities on an interim basis.