The Bank of N.T. Butterfield & Son Limited announced that Michael Covell has retired from the Board of Directors effective July 25, 2022. Mr. Covell joined Butterfield's Board in 2018. Mr. Covell is an experienced non-executive Chairman and Director.

He is currently Chairman of the Acolin Group; Chairman of the Ascot Lloyd Group; Chairman of Le Masurier; Chairman of Sackville Capital. Following the departure of Mr. Covell, Butterfield's Board will consist of nine Directors.