The Bank of N.T. Butterfield & Son Limited announced the promotion of Michael Schrum to President and Group Chief Risk Officer. Craig Bridgewater joins the Executive Committee. Mr. Schrum, who has served as Group Chief Financial Officer since 2015 and an Executive Director since 2020, takes over from Sabeth Siddique, Group Chief Risk Officer, who is to leave Butterfield at the end of May and will continue to be available in an advisory capacity.

Mr. Bridgewater, who has served as Group Head of Finance since 2019, assumes the role of Group Chief Financial Officer. Mr. Bridgewater was previously a Partner at KPMG where he spent 18 years working in both Bermuda and the US and has worked at Orbis Investment Management Limited and Price Waterhouse (now PricewaterhouseCoopers). He is a Fellow of the Chartered Professional Accountants of Bermuda and Canada.