In Guernsey, known for being a highly-regarded international financial centre, local banks play an essential role as the island continues to evolve both socially and economically. For Butterfield, this has meant 2025 was a year of growth in Guernsey, driven by a long-term view of the community it serves.
Sitting down with Jacob Cockcroft, Butterfield’s chief commercial officer for the Channel Islands, the conversation covers the usual facts and figures, balance sheets and products. But what also comes through is the bank’s focus on people, on day-to-day presence and staying firmly rooted in island life.
Jacob notes the steady progress the bank continues to make in building on its 50-year foundation in the Channel Islands. ‘We are finishing the year with over 10,000 local clients across Guernsey and Jersey who have chosen Butterfield as a financial partner, whether that is for their savings, credit cards, mortgages or investments,’ he says.
‘That’s around 10% of the working age population locally, which is a significant achievement. It also serves as a reminder of how much more we can do.’
This ambition is underpinned by an ever-growing awareness of Butterfield, its friendly on-island team and the services it offers. For Jacob, perception matters just as much as the numbers themselves.
‘It tells us that people increasingly see us as a genuine option for their banking needs, not just a specialist provider,’ he explains.
‘That has been a journey we’ve worked at and it reflects a consistent effort across the entire team to put ourselves out there.
‘A big part of that effort has been getting out into the community and engaging with people in the Channel Islands. Over the past year, Butterfield has hosted and supported a wide range of local events across both islands, from the incredibly popular Bubbletecture in Jersey to shopping events at Blue Diamond Garden centres and collaborations with Aurigny.
‘These events and partnerships are about connection,’ Jacob says. ‘They are a chance for people in the community to meet the team in a family-friendly and relaxed setting. Banking can sometimes feel too formal or intimidating, so anything we can do to break down those barriers and build relationships with clients is worthwhile.’
Marking its sixth year as flagship sponsor of the Butterfield Half Marathon, last year’s event saw over 700 registered runners – the race entry since 2019. Butterfield was also visible at the North and West Shows, where the bank’s wyvern (a mythical dragon-like creature used in heraldry of seafaring families) mascot, Vern, proved a hit with younger visitors.
This community commitment was strengthened further with the launch of the Butterfield Charitable Trust, which provides funding to registered charities in Guernsey and Jersey with a focus on community support, inclusivity and the environment. In 2025, more than £80,000 was allocated to island charities in the form of grants. Local beneficiaries included Headway Guernsey, Healing Waves, Art in the Frame Foundation, Brighter Futures, Jersey Employment Trust, Project Linus UK Jersey, Wetwheels, Action for Children, Guernsey Welfare Service, St John Guernsey, and The Village at Le Murier.
Butterfield also offers a range of opportunities to support students who are currently studying or interested in starting a career in financial services. The recently launched Butterfield Channel Islands Undergraduate Scholarship, offers up to $30,000 (or currency equivalent) a year for up to four years of study. There are paid summer internships on offer and, for those committed to a career in finance, there is Butterfield’s graduate talent programme, a 16-month rotational scheme designed to give young people from diverse backgrounds practical experience across the financial services sector.
Jacob goes on to note that while 2025 has seen a lot of community activity, it has been no less busy on the corporate side of the business. Butterfield opened more than 500 new corporate relationships across the Channel Islands during the year, working with new partners as well as existing fiduciary and fund clients. At the same time Butterfield has seen a notable increase in demand for custody solutions.
The bank has also made strides in serving the islands’ businesses communities through its business saver product and corporate credit cards. ‘This is an area where we see real opportunity,’ Jacob explains. ‘Local businesses need straightforward, reliable banking support and we are here to offer that.’
Jacob’s perspective is shaped not only by his role within Butterfield but also by his involvement across the wider industry. As chair of the Association of Guernsey Banks, he has spent much of 2025 engaged in discussions about how to improve the banking sector as a whole. This includes making banking more accessible locally, while ensuring Guernsey remains internationally competitive.
Looking to 2026, Jacob expects another action-packed year. A key priority will be making Butterfield’s local products more accessible, particularly for under-35s. ‘Younger customers have different expectations,’ he explains. ‘They want clarity, digital convenience and products that fit their lives. We are working on a number of technology projects aimed at improving the customer experience across the board’
Above all, Jacob emphasises the importance of staying visible and engaged. ‘We want to continue being out there in the community, supporting the real economy and working alongside local people and businesses,’ he says. ‘That is what keeps the Channel Islands such a vibrant place to live and work.’
You need to be logged in to comment. If you had an account on our previous site, you can migrate your old account and comment profile to this site by visiting this page and entering the email address for your old account. We'll then send you an email with a link to follow to complete the process.