McDonagh will assume the chairman’s duties with effect from 23 January 2012 replacing Robert Mulderig.
In his new role, McDonagh will work closely with Butterfield’s Board and enhancing the core businesses of community banking and wealth management.
Prior to Butterfield, McDonagh worked for HSBC London holding senior positions within HSBC branches including Brunei, Hong Kong, Oman, Japan, the Channel Islands and the UK.
Donagh served as a COO of HSBC North America in 2007 and as CEO and Group Managing Director of HSBC Holdings in 2008.
Robert Mulderig will retire from the Board by end 2012. He has served as a non-executive Director since 1996 and was appointed as Chairman in 2007.
