Butterfield Trust was named Trust Company of the Year (Large Firm) at the STEP Private Client Awards held in London on 7 November 2018.
STEP—the Society of Trust and Estate Practitioners—is the worldwide professional association for those advising families across generations. STEP Private Client Awards are highly respected in the industry, with nominees put through a rigorous, practitioner-led judging process. Winners are considered by STEP to be the best in the industry in their areas of specialisation.
In a press release announcing the award, STEP noted that its judges said ‘Butterfield Trust’s entry demonstrated integrity and an impressive global reach, which has been strengthened by important, high-quality acquisitions that confirms its commitment to excellence in this space.’
Butterfield Trust comprises separately incorporated trust companies in seven locations—The Bahamas, Bermuda, the Cayman Islands, Guernsey, New Zealand, Singapore and Switzerland—and administers over $105 billion in trust assets (as of 30 September 2018). Butterfield Trust is a division of Bermuda-based Butterfield Group, which provides a wide range of specialised financial services for international clients and their advisers from its offices in key international financial centres. In 2018, Butterfield acquired the Global Trust Solutions business of Deutsche Bank, with operations in Cayman, Guernsey, Switzerland and Singapore.
Michael Collins, Butterfield’s Chairman and Chief Executive Officer, said: ‘Trust is a core business, one in which we are investing for continued growth. Our peer-professionals have recognised our progress in developing the leading international trust franchise, and we are honoured that Butterfield Trust has received this prestigious award. Congratulations to the entire team.’
Bob Moore, Butterfield’s Head of Group Trust, said: ‘Butterfield has been a leader in the provision of offshore trust and fiduciary services for more than 80 years, and trust services continue to be a key part of the bespoke financial solutions we are able to offer our international clients. Being selected as STEP’s Trust Company of the Year from a pool of prestigious and deserving candidates is a great honour and reflects the breadth of solutions and the expertise that Butterfield Trust has developed over those many years, along with our unwavering focus on client service excellence.’