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Bank of N.T. Butterfield & Son winds down UK private banking biz

Bank of N.T. Butterfield & Son Ltd. completed the orderly wind-down of its London-based private banking business.

The Hamilton, Bermuda-based bank also no longer offers deposit-taking and investment management services in the U.K. It will maintain a presence in the U.K. through Butterfield Mortgages Ltd., which will provide residential mortgage services.

Butterfield Mortgages was formerly Butterfield Bank (UK) Ltd.