- Bank of Bermuda
Infobox Company
company_name = The Bank of Bermuda Limited
company_
company_type = Subsidiary of HSBC Holdings plc
foundation =1889
location = Hamilton,Bermuda
key_people =John D. Campbell Q.C., J.P. ,Chairman
Philip M. Butterfield ,CEO
industry =Finance and Insurance
products =Financial Services
revenue =
operating_income =
net_income =
num_employees = 1,100
parent =
subsid =
homepage = [http://www.bankofbermuda.com/ www.bankofbermuda.com]
footnotes =The Bank of Bermuda Limited is a leading financial services company in
Bermuda providingfund administration , trust,custody ,asset management and banking services to institutions and individuals. In 2004 the HSBC Group acquired the Bank of Bermuda, which has since become a focus for certain fund management and private banking activities.History
Foundation
In 1889, Bermudian merchants founded a second bank to compete with
N.T. Butterfield & Son. . The Bank of Bermuda took over the branch that the Merchants' Bank of Halifax, Nova Scotia had established in 1886 to take over the agency it had awarded to N. T. Butterfield & Son Ltd. The merchants formally incorporated the Bank of Bermuda in 1890.Bank of Bermuda joins the HSBC Group
Bank of Bermuda grew to span 17 of the world's key financial and offshore centers including Bahrain, Cayman Islands, Cook Islands, Dublin, Guernsey, Hong Kong, Isle of Man, Japan, Jersey, London, Luxembourg, New York, New Zealand, Singapore, South Africa and Switzerland prior to joining the
HSBC Group 's network in February2004 . Shareholders accepted an offer valuing the Bank at US$1.3 billion, the initial offer having been made on28 October 2003 . Most of Bank of Bermuda's operations in these overseas locations were amalgamated with HSBC offices in 2004.The main business lines of the Bank of Bermuda were the traditional banking division (Retail, Commercial and Corporate), Private Client Division (Private Banking and Trust services) and finally the Global Fund Services division (Traditional and Alternative Fund administration). These divisional structures were broadly replicated to in the overseas offices
Bermudian Banking
In the local market Bank of Bermuda offers a broad range of products and services to the local community, including checking and savings accounts, transactional / payment services, debit / ATM cards, credit cards, personal and consumer loans, mortgages and home equity loans, investment and financial planning services.
For the international market Bank of Bermuda offers a mix of Private Client Services, Commercial Banking, Asset Management,Global Fund Services, and Corporate, Investment Banking and Markets activities.
ee also
*
HSBC Holdings plc External links
* [http://www.bankofbermuda.com/ The Bank of Bermuda website]
Wikimedia Foundation. 2010.
