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15 July 2011
Butterfield investment manager takes on expanded role

Richard Saunders, Senior Manager responsible for Butterfield Bank (Guernsey) Limited’s (“Butterfield’s”) asset management business, has been promoted to Head of European Asset Management.


His appointment will extend his responsibilities to include the Bank’s onshore asset management business in London.


Mr. Saunders has been managing discretionary investment portfolios for private clients since 1991. He joined Butterfield as a Senior Manager and Head of the Guernsey Investment Team in 2000 and is a member of the Bank’s Executive Committee in Guernsey. He is also a member of the Group Investment Council and the Asset Management Executive Committee which sets the strategic direction of Butterfield’s investment operations.


During his tenure, Mr. Saunders has been responsible for major growth in Butterfield’s total assets under discretionary management in Guernsey, and he has also managed the successful integration of two significant acquisitions.


Mr Saunders will continue to be based in Guernsey and will continue to be instrumental in driving the strategic development of Butterfield’s asset management business.


He said, “In London and Guernsey, we are fortunate to have two extremely experienced, talented, and complimentary investment teams.  Both businesses have been built upon delivering the very highest quality of client service.  By working even more closely together, and seamlessly combining both offshore and onshore expertise, I am confident that we will further enhance the experience of our existing and future investment clients”.


Director of Butterfield Bank (Guernsey) Limited, John Robinson,  said: “We are delighted with Richard’s well deserved appointment.  It recognises the expertise and knowledge that he offers the Butterfield Group and the resultant benefits we can deliver to clients.”


Michael Neff, Executive Vice President and Group Head of Asset Management at Butterfield said, “Wealth management is a key business for Butterfield Group, and the continued development and delivery of proprietary investments and asset management services is essential to our ongoing success in the international wealth management sphere.  Richard has made a tremendous contribution to our asset management offering in Guernsey, and I am pleased that we will be able to leverage his expertise further under a unified European asset management operation.”




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