Michael Collins, Butterfield’s Chairman and Chief Executive Officer rang the New York Stock Exchange [NYSE] Closing Bell on July 23rd to commemorate the company’s 160th anniversary, with members of the Bank’s Board of Directors joining Mr Collins at the Bell Podium.
According to their website, “Butterfield is Bermuda’s first bank, originating from the trading firm of Nathaniel Butterfield, founded in Bermuda in 1758.
“Originally specialising in trading Bermuda cedar, wine and dry goods, the business of the firm grew and became more sophisticated under the direction of the founder’s son, Nathaniel T. Butterfield.
“Eventually, the company began establishing current accounts for its merchant clientele, and by the early 1800s, financial transactions came to dominate the daily business of the company.
“In 1858, the firm was established as a private bank in Bermuda – The Bank of N.T. Butterfield. It was later incorporated under a special act of the local Parliament in 1904.”
Butterfield is publicly traded on the New York Stock Exchange [symbol: NTB] and the Bermuda Stock Exchange [symbol: NTB.BH].
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