Bermuda-based Butterfield Bank is to launch a wholly-owned Geneva, Switzerland-based subsidiary before the end of the year.
Jim Parker, former Barclays Private Bank head of wealth structuring, and director of wealth advisory for the Switzerland-based Barclaytrust, will lead the new operation. As Butterfield Bank Group’s country head for Switzerland, he will assume responsibility for the group’s local activities, including Zurich-based Butterfield Asset Management(Switzerland).
Prior to positions with Barclays, Parker occupied senior positions in wealth management and trust services in Switzerland with both Citigroup and Chase Manhattan Private Bank. He will be joined by deputy country head Phil Lenz, who was also previously with Barclays Wealth as chief administration officer.
“This builds on our group’s heritage as a leading provider of international fiduciary services and further extends the services we provide to our clients from key European private-banking centres, which also include Butterfield Private Bank in London and our well-established business in Guernsey, Channel Islands,” says Graham Brooks, executive vice president of Butterfield Bank