Neville Grant has stepped down as chief executive of Bermuda Commercial Bank.

The bank said Mr Grant is to “pursue other opportunities”.

A bank spokesman said: “Subject to Bermuda Monetary Authority acceptance, we are pleased to announce that Andy Mielczarek will join the BCB board as chairman and prospectively, subject to immigration approval, will take on the role as CEO.

“Andy brings a wealth of international banking leadership experience to BCB including roles with Charles Schwab, Bank of America and more recently nearly ten years with HSBC covering multiple roles and global geographies.

“Over the last seven years Andy founded and led the UK digital bank Chetwood Financial Ltd.”

Mr Mielczarek said: “I am thrilled to be joining Bermuda Commercial Bank at such an important point in its journey. I am excited about the prospects ahead for the bank, to work closely with all of our talented and passionate employees and to continue the ongoing legacy of BCB’s important place in the community of Bermuda.”

A bank spokesman said: “Neville has been with BCB for more than four years, in which time his leadership has been instrumental in ensuring the execution of our strategy and success in Bermuda.

“Specifically, he has played a key role in the delivery of strategic projects including but not limited to the following:

• The rollout of the Government Mortgage Guarantee Programme providing greater access to the housing market

• The progress of BCB’s people initiatives that allowed BCB to achieve both eighth in 2022 and fifth in 2023 of the RG Top 10 Employers of Bermuda

• The collective work to de-risk the bank’s investment portfolio, increasing the stability of the bank

• The work to divest the bank of BCB Charter and Paragon in 2022 to focus the bank on its core offering

• His oversight of the successful implementation of our new core banking system in 2024 and the launching of a digitisation effort to streamline some of the bank’s process

“We would like to thank Neville for his commitment and contribution to BCB during his tenure and wish him all the best in his next endeavour.”

Andrew Brook, chairman of the board, said: “I am thrilled about the pending arrival of Andy Mielczarek to Bermuda Commercial Bank. He brings such a wealth of experience to the organisation and I look forward to working closely with him.”

He added: “I wish Neville all the very best in the future and would like to thank him for all of his leadership and contribution throughout his time at BCB.”

The bank said Graham Jackson, subject to immigration approval, will take on the day-to-day leadership of the bank in the role of interim CEO alongside his duties as chief financial officer during the transition period.