The Bank of N.T. Butterfield & Son Limited (Butterfield) has closed the purchase of ABN Amro Channel Islands after securing regulatory approval.

The deal, valued at £161m, was announced this April.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

ABN Amro Channel Islands provides investment management, banking and custody products. It had £3.5bn in assets under management and custody at the end of December 2018.

Under the agreement, the business will be completely integrated with Butterfield Bank (Guernsey) in the coming 12 months.

The rebranding process is over, with the acquired entity now operating under the name Butterfield Bank (Channel Islands).

Currently, existing relationship management contacts, services and client online banking access will remain unchanged.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Butterfield chairman and CEO Michael Collins said: “Butterfield’s combined and expanded banking presence in Guernsey and Jersey now represents a substantial part of our group’s banking business and supports our view of the Channel Islands as a leading international financial centre and a growth market for Butterfield.

“I am particularly pleased to welcome our new colleagues in the Channel Islands to Butterfield. The team has a well-earned reputation for innovation and excellent client service, which we intend to continue in our goal to deliver superior products and service to our customers.

“As we initiate our integration plans and bring together our teams and systems, we remain focused on delivering a seamless transition to employees and customers.”

Butterfield acquired Deutsche Bank’s banking and custody business in the Cayman Islands, Jersey and Guernsey last year.