Butterfield Bank to Acquire R&H Guernsey in $9B Trust Services Expansion
Butterfield Bank has announced plans to acquire Rawlinson & Hunter (R&H) in Guernsey. The deal aims to boost the bank's private trust services and expand its market position in the stock market today. Completion is expected in early 2026, pending regulatory approval.
The acquisition will bring around 50 qualified staff, 71 client groups, and $9.0 billion in assets under administration to Butterfield's Guernsey operations. Only the R&H Guernsey entity is included, with no other member firms or network interests affected.
Before this agreement, Butterfield held a 15-20% share of Guernsey's private trust market, placing it behind HSBC (25%) and Standard Bank (22%) but ahead of firms like Sanne Group and IQ-EQ. Michael Collins, Butterfield's Chairman and CEO, described the move as a key step in strengthening their global leadership in private trust services.
Alasdair Cross, Senior Partner at R&H Guernsey, welcomed the deal, stating that clients can expect the same high level of service. The transaction remains subject to standard closing conditions and regulatory clearance.
Once finalised, the acquisition will increase Butterfield's presence in Guernsey's private trust sector. The bank will gain additional expertise, clients, and assets, reinforcing its position in the stock market.
