O’Dea retires from bank’s top job

(CNS): After more than 26 years at Butterfield Bank (Cayman) Ltd and over 19 as the managing director, Conor O’Dea is retiring from his executive roles at the bank in April this year. He will then become the non-executive chairman of the board, according to a release from the bank. Sophia Harris will be stepping down to make way for O’Dea but she has agreed to remain on the board as a non-executive director, the bank said.

Mike McWatt, the current deputy MD of the bank, will, subject to immigration approval, become the MD when O’Dea retires on 26 April.

O’Dea has also been nominated and will stand for election to the board of the bank of N.T. Butterfield & Son Limited, the parent company of the group, as a non-executive director at its annual general meeting of shareholders on 26 April.

Michael Collins, Butterfield’s Chief Executive Officer, said that during O’Dea’s tenure Butterfield had grown from a relatively small bank of about 60 people to the jurisdiction’s leading, full-service community bank, employing nearly 300 staff.

“In his role as head of international banking and latterly president and COO, Conor has also successfully overseen the strategic evolution of Butterfield’s European and Caribbean businesses, leading the integration and harmonisation of key functions globally,” he said. “I would like to take this opportunity to thank Conor for his many contributions to Butterfield over his 26 years with the Bank.  I look forward to continuing to work with Conor in his capacity as Chairman of Butterfield Cayman and a member of the Group Board subject to his election by shareholders.”

O’Dea said working with his colleagues in Cayman and across the group had been a tremendously rewarding experience.

“Together, we have grown the business into a highly respected, profitable and progressive financial services company that is well positioned for continued growth.  I have had the pleasure of working with great people for the last 26 years and have truly appreciated their loyalty and commitment to growing the Butterfield brand in all of the jurisdictions in which we operate,” he said.

“Everything changes over time and for me the time has come to retire from my senior executive role and take time to enjoy life at a more relaxed pace,” he said, adding that he was delighted over the nomination for the Group Board and appointment as chair locally as he would continue to be involved in shaping the bank’s future.

Tags: Butterfield Bank

Category: Finance