Bermuda Commercial Bank has appointed a new president and chief operating officer, the bank announced yesterday.

In a press release, the board of directors of Bermuda Commercial Bank Limited announced the appointment of Timothy W. Ulrich.

The bank, which deals purely with commercial customers, said Mr. Ulrich has been a Director of BCB since December, 1999.

But it added he has been involved in the activities of the bank since May, 1993 when he assisted First Curacao International Bank in its acquisition of the shares of BCB, which was previously owned by Barclays Bank.

Mr. Ulrich has served as Vice President and General Counsel for the Transworld Oil group of companies since 1987, and is also Vice President and General Counsel of First Curacao International Bank, BCB's largest shareholder.

He is responsible for all legal matters for the Transworld group of companies and their affiliates globally.

Mr. Ulrich began his law practice on Wall Street in 1974, and has over 27 years of experience in international law and business, including banking and finance matters.