The story
Foundation
In 1889, Bermudian merchants founded the Bank of Bermuda, a second bank to compete with N. T. Butterfield & Son. The Bank of Bermuda took over the branch that the Merchants' Bank of Halifax, Nova Scotia had established in 1886 to take over the agency it had awarded to N. T. Butterfield & Son Ltd. The merchants formally incorporated the Bank of Bermuda in 1890.
Acquisition by the HSBC Group
The Bank of Bermuda grew to a presence in 17 of the world's key financial and offshore centers including Bahrain, Cayman Islands, Cook Islands, Dublin, Guernsey, Hong Kong, Isle of Man, Japan, Jersey, London, Luxembourg, New York, New Zealand, Singapore, South Africa and Switzerland prior to its acquisition by the HSBC Group in February 2004. Shareholders accepted an offer valuing the Bank at US$1.3 billion, the initial offer having been made on 28 October 2003. Most of Bank of Bermuda's operations in these overseas locations were amalgamated with HSBC offices in 2004.
In 2015, HSBC Bermuda sold its Trust and Investment Business operations to N. T. Butterfield & Son.
In 2018, Steve Banner replaced Mark Watkinson as CEO of the bank, after the bank had launched the first US Treasury Fund to be domiciled in Bermuda.
From Wikipedia’s article on HSBC Bank Bermuda, shared under CC BY-SA 4.0.5