Butterfield Trust has been named Trust Company of the Year, in the large firm category, at the STEP Private Client Awards in London.

STEP is the Society of Trust and Estate Practitioners, and it is the worldwide professional association for those advising families across generations.

On a statement, STEP announced it its judges had said: “Butterfield Trust’s entry demonstrated integrity and an impressive global reach, which has been strengthened by important, high-quality acquisitions that confirm their commitment to excellence in this space.”

Butterfield Trust comprises separately incorporated trust companies in The Bahamas, Bermuda, the Cayman Islands, Guernsey, Jersey, New Zealand, Singapore and Switzerland. It administers over $105 billion in trust assets

Butterfield Trust is a division of Bermudian-based Butterfield Group, which provides a wide range of specialised financial services for international clients and their advisers from its offices in key international financial centres.

This year Butterfield acquired the Global Trust Solutions business of Deutsche Bank, with operations in Cayman, Guernsey, Switzerland and Singapore.

Michael Collins, Butterfield’s chief executive officer, said: “Trust is a core business, one in which we are investing for continued growth. Our peer-professionals have recognised our progress in developing the leading international trust franchise, and we are honoured that Butterfield Trust has received this prestigious award. Congratulations to the entire team.”

Bob Moore, Butterfield’s head of group trust, said: “Butterfield has been a leader in the provision of offshore trust and fiduciary services for more than 80 years, and trust services continue to be a key part of the bespoke financial solutions we are able to offer our international clients.

“Being selected as STEP’s Trust Company of the Year from a pool of prestigious and deserving candidates is a great honour and reflects the breadth of solutions and the expertise that Butterfield Trust has developed over those many years, along with our unwavering focus on client service excellence.”