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Panton helps Butterfield debut on Wall Street

Minister of Financial Services Wayne Panton joined Premier of Bermuda Michael Dunkley and CEO Michael Collins on Friday (16 September) at the New York Stock Exchange in ringing the opening bell on the first trading day of stock in Bank of N.T. Butterfield (NTB). The Bermuda-based bank, which also operates in Cayman, the United Kingdom, Guernsey, the Bahamas and Switzerland, priced its initial public offering of stock at USD$23.50, but the price quickly rose above $25.00 for the 10.6 million shares being offered.

Mr. Collins says the IPO’s reception shows confidence in Butterfield’s business model. “We are a great bank,” he said. “Two great jurisdictions that sell themselves and are world-renowned from a business perspective, so it went very well.”

“This sort of thing really gives our customers in Cayman a great deal of confidence as well,” said Minister Panton, “so it’s fantastic to be here and to support them.”

About the author

Patrick Kreitlow

Patrick Kreitlow

Pat Kreitlow joined the Cayman 27 staff in October 2015. For nearly a decade, Pat was a familiar presence in living rooms across western Wisconsin where he was a reporter and nightly news anchor at WEAU-TV. He later served his neighbors as a state senator. When he and his wife Sharry became “empty nesters,” they moved to Grand Cayman in early 2014. They have two daughters and two grandsons.

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