Schmalcel takes on Butterfield Bahamas role

The Bank of N.T. Butterfield & Son Limited (the “Bank”) today announced that Ron Schmalcel, who is currently Vice President and Head of Corporate Trust at Butterfield Trust (Bermuda) Limited (a wholly owned subsidiary of the Bank), will relocate to Butterfield’s Nassau, Bahamas office to take on the senior Group role of Vice President of Marketing & Product/Service Development for Corporate Trust services.

In this capacity, Mr. Schmalcel will be responsible for service delivery to existing institutional clients and the development of new Corporate Trust and related business opportunities, promoting the multijurisdictional capabilities of the Butterfield Group.

He will work closely with the Corporate Trust specialists in Butterfield Trust’s Bermuda, Bahamas, Cayman, and Guernsey offices.

Corporate Trust services include a wide variety of solutions to meet the specific requirements of institutional clients, including International Pension Funds, Employee Benefit Trusts, and provision of Unit Trust Trusteeship for certain investment fund structures.

Mr Schmalcel is an active member of the Society of Trust and Estate Practitioners. He practiced tax and estate planning in Canada for more than a decade before being appointed to senior roles in the fiduciary industry in The Bahamas. He joined Butterfield in Bermuda in 2008.

Bob Moore, Executive Vice President & Head of Group Trust, said: “Ron’s appointment to this senior role underlines our commitment to institutional clients and their wide-ranging fiduciary service requirements. His experience will allow us to concentrate in more depth on the particular specialist needs of institutional clients internationally and on harnessing the capabilities of our offices, particularly in Bermuda, the Cayman Islands, The Bahamas, and Guernsey, to meet these needs.

This involves the continual refinement of products and services to ensure that our offer remains appropriate and innovative in this ever-changing market.”