Butterfield managing director to retire

Conor O'Dea will retire from his executive position at Butterfield bank.
Conor O'Dea will retire from his executive position at Butterfield bank.
Conor O’Dea will retire as president of Butterfield Bank Cayman.

Conor O’Dea, president, chief operating officer and managing director of Butterfield Bank Cayman, will retire from his executive roles on April 26, the bank has announced.

Mike McWatt, deputy managing director of Butterfield Bank Cayman, will succeed Mr. O’Dea as managing director of the Cayman bank, subject to immigration and regulatory approvals.

Mr. O’Dea will become non-executive chairman of the board of Butterfield Bank in Cayman upon his retirement. Sophia Harris, the current non-executive chairman, will then step down but will remain on the board as a non-executive director.

Mr. O’Dea has also been nominated and will stand for election to the board of Butterfield Group as a non-executive director at its annual general meeting of shareholders on April 26.

Michael Collins, Butterfield’s chief executive officer, said, “During Conor’s tenure, Butterfield Cayman has grown significantly from a relatively small bank of about 60 people to become the jurisdiction’s leading full-service community bank, employing nearly 300 staff. In his role as head of international banking and latterly president and COO, Conor has also successfully overseen the strategic evolution of Butterfield’s European and Caribbean businesses, leading the integration and harmonization of key functions globally.”

Mr. O’Dea joined Butterfield in Cayman in 1989 and became managing director in 1997. He was promoted to senior executive vice president of International Banking in 2011, and president and chief operating officer in 2015.

“Working with my colleagues in Cayman and across the Butterfield Group has been a tremendously rewarding experience. Together we have grown the business into a highly respected, profitable and progressive financial services company that is well positioned for continued growth,” Mr. O’Dea said.

“I have had the pleasure of working with great people for the last 26 years and have truly appreciated their loyalty and commitment to growing the Butterfield brand in all of the jurisdictions in which we operate. Obviously, Cayman has been particularly rewarding for me personally, and I am grateful to have been given the opportunity to lead Butterfield Cayman for the past 19 years,” he added.

“I am delighted to have been nominated for election to the group board and to have been appointed chairman of the Cayman board, where I will be able to continue to be involved in helping shape the future of Butterfield.”

Support local journalism. Subscribe to the all-access pass for the Cayman Compass.

Subscribe now