Bermuda-based Bank of N.T. Butterfield & Son Ltd. named Daniel Frumkin to the new role of group COO.

Frumkin's former role of group chief risk officer has been taken on by Andrew Graham. Graham was chief risk officer and head of fiduciary risk at subsidiary Butterfield Bank (Guernsey) Ltd.

Other organizational changes made were the placement of risk management under finance and the separation of compliance from risk management.