<P> It was also announced at that time that CEO & President Alan Thompson had stepped down from leadership of the company, with then - CFO Brad Kopp assuming the role of President and CEO . </P> <P> Butterfield returned to profitability in 2011, posting net income for the year of US $40.5 million . </P> <P> In 2012, Brendan McDonagh, who was previously Chief Executive Officer of HSBC North America Holdings and Group Managing Director, HSBC Holdings plc, joined Butterfield as a Director and Executive Chairman . In August 2012, McDonagh was named Chairman and Chief Executive Officer . </P> <P> In 2014, Butterfield acquired the trust and fiduciary services business of Guernsey - based Legis Group, adding further scale to its international trust business . In 2015, Butterfield completed the acquisition of select personal and corporate banking business from HSBC in the Cayman Islands, similarly expanding its market presence in that market . </P>

Bank of n t butterfield & son ltd