The Bank of N.T Butterfield & Son Ltd. today made a ?51.5 million ($94.3 million) agreed cash bid for "bank to the stars" Leopold Joseph Holdings Plc, a UK private banking company.

The bid is at 950 pence per Leopold Joseph share, 11 percent above the company's closing share price yesterday, Butterfield said.

The bank was described as "the bank of choice" for the Rolling Stones and Cat Stevens by London's Evening Standard.