Peter Horton appointed CEO of Bermuda Commercial Bank

Bermuda National Limited (“BNL”) a listed financial services investment holding company, is pleased to announce the appointment of Mr. Peter Horton as Chief Executive Officer of Bermuda Commercial Bank Limited (“BCB”), BNL’s 100% subsidiary.

Mr. Horton joins BCB from the Bank of Maldives where he has been CEO and Managing Director for the past two and a half years. In his role at the Bank of Maldives, Mr. Horton was responsible for developing and implementing company strategy, leading operations and was instrumental in turning that bank around.

Mr. Horton, originally from the UK, has a proven track record of generating positive results across the globe. He has previously held senior posts at Barclays Bank in Africa, First Caribbean International Bank in the Bahamas and Turks and Caicos, and most recently the Bank of Maldives.

In his new role at BCB, Mr. Horton will be responsible for managing the businesses of the Bank, setting the strategic plans, ensuring the Group companies meet their statutory obligations and maintaining the Group’s vision and values. He will also be responsible for the Bank’s relationships with its external stakeholders, including BCB’s clients and the Bermuda Monetary Authority. He will report to the Board of Directors.

BCB Chairman, Mr. J. Michael Collier, stated “The process to identify a new CEO at BCB was extensive and we are pleased that Mr. Horton has agreed to join BCB. His experience in the banking sector in a number of jurisdictions will be an asset to BCB as we seek to continue to successfully grow the Bank. The Board is very much looking forward to working with him when he joins in October of this year.”

In addition to the new CEO appointment, BCB has also appointed two new members to the Board of Directors, Mr. David Morgan and Mr. Andrew James Brook.

Mr. Morgan has been appointed to the Board and will assume the role of Deputy Chairman. Mr. Morgan has over thirty-five years experience in international banking, building his career at Standard Chartered Bank in Europe and the Far East, and becoming Chief Executive for the UK and Europe in 1998. Since leaving Standard Chartered in 2003, he has been involved in a wide range of business advisory and non-executive roles. He is currently a Non-Executive Director of BNL, Private & Commercial Finance PLC, Ascot Lloyd Financial Services Ltd and J.O. Hambro Investment Management Ltd.

Mr. Brook, formerly a partner for the last 12 years at PwC Bermuda, has been appointed to the Board as Chair of the Audit Committee. He has nearly 25 years of financial services experience in both audit and advisory work, incorporating offshore and on shore regulatory expertise.

“BCB is delighted with the appointments of Mr. Horton, Mr. Morgan, and Mr. Brook,” stated Mr. Collier. “Our team and our Board will be further strengthened by these well established and highly regarded individuals. We are confident that they will make positive contributions to our continuously growing Group of Companies.”