Butterfield's chief operating officer steps down

Butterfield, the Bermuda-based investment bank, has announced that Daniel Frumkin, the group chief operating officer, is leaving his post with immediate effect. As a result of this departure, Michael Neff, managing director Bermuda, will lead the company's international trust business and Richard Saunders, managing director in the Channel Islands, will assume responsibility for international corporate banking. Michael McWatt, Butterfield's managing director in the Cayman Islands, will m...