The Bank of Butterfield has named a new executive vice-president and chief financial officer.

John Maragliano, who has been interim CFO since August, was confirmed in the post.

He replaces Brad Rowse, who was appointed in 2009.

Mr Maragliano joined the bank 11 years ago from PwC Bermuda to head up the treasury middle office function at the bank, reporting to the CFO.

He was later responsible for group financial and regulatory reporting, financial forecasting and budgeting and business performance management in the group finance division of Butterfield.

He has also worked with the bank’s senior executive team on strategic planning, acquisitions and divestures and capital planning.

Before joining the bank, Mr Maragliano held senior positions in public accounting firms on the Island and in Canada.

He worked for PwC and Grant Thornton in Canada and is a Chartered Accountant and Chartered Financial Analyst with a degree in business administration and accounting.