Butterfield Announces Board Changes
The Bank of N.T. Butterfield & Son Limited (“Butterfield”) (NYSE: NTB | BSX: NTB.BH) today announced that Sonia Baxendale has joined the Board as an Independent Director.
Ms. Baxendale is an accomplished executive with extensive retail banking and wealth management leadership experience. She has held senior leadership roles within Canadian Imperial Bank of Commerce (“CIBC”), including six years as Senior Executive Vice President and President of Retail Banking and Wealth Management with responsibility for 28,000 employees serving 11 million clients in Canada, as well as investment management and business banking services for clients in the Caribbean, China and Singapore. During her time at CIBC, Ms. Baxendale also served as Executive Vice President Asset Management, Card Products & Collections, Executive Vice President Global Private Banking & Investment Management, and Managing Director of CIBC Wood Gundy, the bank’s retail brokerage arm. Ms. Baxendale is currently the President and CEO of the Global Risk Institute (“GRI”), a think tank and consultancy that provides thought leadership and actionable insights on emerging risks within the global financial services industry. Prior to joining CIBC, Ms. Baxendale held progressively senior positions with Saatchi & Saatchi and American Express Canada.
Ms. Baxendale serves on the boards of Foresters Financial, Laurentian Bank of Canada, and RSA Insurance Group, and is the Chair of the Board of SickKids Foundation and a member of the Board of Trustees for Toronto’s Hospital for Sick Children. She holds a Bachelor of Arts in Political Science and Economics from Victoria College, University of Toronto.
Michael Collins, Butterfield’s Chairman and Chief Executive Officer, said, “Sonia is an experienced corporate director who has served in executive leadership roles for one of North America’s leading banks. She has a deep understanding of the retail banking business and wealth management internationally, including relevant experience in the Caribbean. As the CEO of GRI, she brings additional useful insight of emerging risk factors affecting the global financial services industry. Her perspective will be invaluable to Butterfield as we continue to pursue growth and build sustainable value for shareholders as the world’s leading independent offshore bank and trust company. We are pleased to welcome Sonia to our Board.”
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