The Bank of NT Butterfield & Son yesterday announced that Ron Schmalcel, who is currently vice president and head of corporate trust at Butterfield Trust (Bermuda), will relocate to Butterfield’s Nassau, Bahamas, office to take on the senior group role of VP of marketing & product/service development for corporate trust services.

In his mid-year budget statement, Prime Minister Perry Christie reiterated his government's commitment to a course of "prudent stewardship" of the nation’s economy and fiscal affairs, one that includes no increases in taxes.