Bermuda Commercial Bank Limited today announces that J. Michael Collier has retired as a Director and Chairman of the Board of the Bank.
Mr. Collier, a career banker has served on the BCB Board as a Director and Chairman for four years. He was formerly President and CEO of The Bank of N.T Butterfield & Son until he retired in 1996 after 33 years and a Director of Ascendant Group Limited for 23 years and its Chairman between 2004 and 2012.
The BCB Board of Directors has elected Alan Gilbertson, a current non-executive Director, as Chairman on an interim basis. Mr. Gilbertson has agreed to serve in this capacity to enable the Board to find a permanent successor to Mr. Collier.
Mr. Gilbertson has 35 years of experience in the financial services and the non-profit sectors in Bermuda, South Africa and Asia. Mr. Gilbertson, a Chartered Accountant, helped to establish the Orbis Investment Management Group in Bermuda, and was the Group’s President until he retired in February 2000. Mr. Gilbertson's other Directorships include Orbis World Limited, The Global FoodBanking Network, FoodBank South Africa, and the Bermuda Triathlon Association. He recently agreed to serve as a Trustee of the Bermuda Underwater Exploration Institute.
“Michael’s contribution to BCB has been immense and hugely appreciated,” stated Peter Horton, BCB’s CEO. “We are sorry to see him retire and are grateful that he will be available and willing to provide continuing advice and the benefit of his experience. On behalf of the Directors and staff, we all wish him well in his retirement.”
Mr. Collier commented:
“I have thoroughly enjoyed my commitment to the Financial Services Industry, here in Bermuda and abroad, over the past five decades. I was delighted to serve as Chairman of Bermuda Commercial Bank Limited since the change in majority ownership of BCB in April 2010 and to see how the Bank has expanded in both profitability and in number of employees. It is now time for me to take retirement seriously, to focus on maintaining good health and to spend quality time with my family.”