Noel McLaughlin, managing director, Butterfield Bank replies:
IN this era of heightened Know Your Client and transaction due diligence requirements, individuals are often discouraged by the time it can take to open new accounts. Another struggle for individuals is identifying which is the best location for their requirements.
These frustrations can be reduced by working with a company that is in multiple jurisdictions, allowing the individual to leverage the company-wide network. A relationship in one jurisdiction can translate into a head start when commencing business in another; this is particularly relevant when dealing with complex or non-standard transactions and/or those with tight deadlines.
Butterfield services span a number of island jurisdictions and, in essence, Butterfield is an offshore bank. Developing a meaningful business footprint in each of the markets where it operates is a key objective and so too is the ability, and importantly willingness, to co-operate between jurisdictions when dealing with client needs.