Bradley Rowse *File photo
Bradley Rowse *File photo

Caroline Foulger has been appointed to the Bank of NT Butterfield’s board of directors.

The Bank also announced the retirement of Bradley Rowse, executive vice president and CFO.

Ms Foulger was appointed a director on July 30, filling one of the vacancies created by the departures of Sheila Lines and Pauline Richards, who did not stand for re-election at the Bank’s May 2013 Annual General Meeting.

She is currently the chair of the Bermuda Business Development Corporation. Prior to that Ms Foulger was a partner with PricewaterhouseCoopers (PwC) Bermuda from 2000 to 2012, when she retired from the partnership to take on non-executive director roles.  She led PwC’s Bermuda Insurance and Reinsurance Industry practice from 2004 to 2012 and the Bermuda Government and Public Sector practice in 2011 and 2012. 

She is a Fellow of the Institute of Chartered Accountants in England and Wales, a member of the Institute of Chartered Accountants of Bermuda, and a member of the Institute of Directors. 

 Brendan McDonagh, Butterfield’s chairman and CEO, said in a press release: “We are pleased that Caroline has agreed to join the Bank’s Board.  She is a prominent and highly respected leader within the financial and professional services sectors in Bermuda and she will bring in-depth knowledge of the needs and practices of international business to Bank’s Board deliberations. 

“Her experience working with and advising decision makers in public sector roles will be similarly important as we work to facilitate growth within the Bermudian economy through the provision of leading banking services, work cooperatively with public sector agencies to promote Bermuda as a  business centre and continue our efforts to build value for Shareholders.”

Mr Rowse retired as of July 31. John Maragliano, senior vice president, Finance, has been named interim CFO, effective August 1.

Mr. Maragliano’s joined Butterfield in 2002 as a Treasury Controller and became Head of Finance in 2005. Prior to joining the Bank, he held increasingly senior positions in public accounting firms and financial institutions both locally and in Canada, including PwC in Bermuda and in Edmonton, and Grant Thornton LLP in Vancouver.

Mr. Maragliano is a Chartered Financial Analyst (CFA) and Chartered Accountant (CA) with a degree in business administration and accounting from Simon Frazer University, British Columbia.