Hamilton, Bermuda — July 25, 2022: The Bank of N.T. Butterfield & Son Limited (“Butterfield”) (NYSE: NTB | BSX: NTB.BH) today announced that Michael Covell has retired from the Board of Directors effective July 25, 2022. 

Michael Collins, Butterfield’s Chairman and Chief Executive Officer, said, “On behalf of the Board of Directors, I would like to thank Mike for his valuable contributions and insight, particularly as it has related to private wealth and trust.  He has been a knowledgeable participant in our board discussions and his guidance will be missed.”

Mr. Covell joined Butterfield’s Board in 2018. Mr. Covell is an experienced non-executive Chairman and Director. He is currently Chairman of the Acolin Group, a Swiss headquartered cross-border fund distribution business; Chairman of the Ascot Lloyd Group, a UK financial planning business; Chairman of Le Masurier, a Jersey based real estate investment and development business; Chairman of Sackville Capital, a London multi-asset global investment advisory firm. 

Following the departure of Mr. Covell, Butterfield’s Board will consist of nine Directors.