Senior Moves at Butterfield Private Bank

23 August 2006

Jim Best, former head of investment management at UK-based Butterfield Private Bank, has left the company. Mr Best joined Butterfield in 2005 to see through a transitional period and to help build a team of investment managers following departures to Smith & Williamson of original employees of Leopold Joseph, the London-based private bank bought by Bank of Butterfield in 2003. The new head of the head of investment at Butterfield is Mark Dowell who has been promoted internally. Butterfield reported client assets under administration of $22.2 billion, and assets under investment management of $800 million at the end of the first quarter.