BUTTERFIELD Bank Guernsey has reached a milestone. On 30 September, the bank had in excess of US$12bn in assets under custody compared to US$6.8bn in September 2006.

Head of custody services Sadie Podmore said the landmark achievement could be largely attributed to increased volumes within the bank’s institutional business and reflected its standing in the custody sector.

‘We are delighted to have reached more than US$12bn. in assets in custody. Our dedicated team of 25 has a wealth of experience which attracts a high level of business to the bank.

‘Our results reflect our ability to offer clients a unique and personalised service. We continue to build on our strengths and aim to provide clients with the best possible custodian services.ﾔ

Custody services are a core part of the bank’s offering and include access to senior technical specialists, flexibility of reporting and close communications with clients. Additionally, the bank acts as a custodian trustee on a variety of Guernsey collective investment schemes.

It also provides custody services to clients such as charitable foundations, fund managers and trust companies.