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New logo for Bank of Bermuda
29 June 2004
Bank of Bermuda, which became a member of the HSBC Group in February 2004, has adopted HSBC’s red and white hexagon symbol.
Branches and cashpoints in Bermuda, and the bank’s international offices, are all adopting the new look. Phil Butterfield, Bank of Bermuda’s CEO, said: “With our new identity, we are now recognisably part of the HSBC Group to customers in Bermuda and around the world.”
Bank of Bermuda, a leading provider of fund administration, trust, custody, asset management and banking services, is headquartered in Bermuda and operates through a global network of offices in key financial and offshore centres.
The new look is the latest initiative to integrate Bank of Bermuda with the HSBC Group, and follows the launch earlier this year of the first HSBC products to Bank of Bermuda customers. The China Bonus Fund and the Selected World Growth Fund, both from the latest in HSBC’s International Capital Secured Growth Fund series, were offered to global and Bermuda-based investors in April 2004.
Client reaction to Bank of Bermuda joining the HSBC Group has also been positive, with a number of significant business wins, including a new $225 million credit agreement for a Bermuda-based Global Funds Services client. Meanwhile, Bank of Bermuda’s private client asset management division has seen new funds increase by over US$200 million.
About Bank of Bermuda
Founded in 1889, Bank of Bermuda is engaged in four principal areas of activity:
- Global Funds Services provides offshore trust, custody and administration services to the investment fund industry. Bank of Bermuda has more than 1,100 institutional clients, including some of the world’s leading fund managers.
- Private Client Services: Bank of Bermuda provides high net worth individuals and families with trust and beneficiary services, personal financial advice and integrated management of their financial affairs. Private Client Services serves approximately 5,000 clients.
- Community Banking: Bank of Bermuda provides a comprehensive range of banking, credit and investment products in Bermuda to its 48,000 personal clients.
- Corporate Banking: Bank of Bermuda provides cash management services to offshore insurance management companies and multinational corporations, including leading shipping and investment holding companies, as well as to local Bermuda companies. It has approximately 9,000 international clients and 4,500 local clients.
Bank of Bermuda has total assets of US$12.8 billion (as at 31 December 2003) and over US$130 billion in assets under administration. In 2004 it became a wholly-owned indirect subsidiary of HSBC Holdings plc.
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