Former Chief Executive Officer of Bank of Maldives, Peter Horton has been appointed the CEO of Bermuda Commercial Bank, a bank in The Islands of Bermuda that caters to the needs of commercial, corporate and high net-worth clients.
In a press release published on the Burmuda Sun, Burmuda National Limited (BNL), a financial services investment holding company, announced the appointment of Peter Horton as Chief Executive Officer of Bermuda Commercial Bank Limited (BCB), a 100 percent subsidiary of BNL.
The BNL statement said that in his new role at BCB, Horton will be responsible for managing the businesses of the Bank, setting the strategic plans, ensuring the Group companies meet their statutory obligations and maintaining the Group’s vision and values, maintaining the Bank’s relationships with its external stakeholders, including BCB’s clients and the Bermuda Monetary Authority. Horton is scheduled to start at BCB in October 2013.
Burmuda Sun states that Horton, originally from the UK, has a proven track record of generating positive results across the globe through his previously held senior posts at Barclays Bank in Africa, First Caribbean International Bank in the Bahamas and Turks and Caicos, and most recently the Bank of Maldives.
BCB Chairman, Mr. J. Michael Collier, stated “The process to identify a new CEO at BCB was extensive and we are pleased that Mr. Horton has agreed to join BCB. His experience in the banking sector in a number of jurisdictions will be an asset to BCB as we seek to continue to successfully grow the Bank.”
Bank of Maldives, the Maldives national bank decided to distribute MVR 50 million in interim dividend this year, from a profit of MVR 527 gained during the first six months. This is the first time in three years that the public limited bank has decided to share dividends with shareholders.