The wyvern, which represents protection and valour, has been part of the bank’s corporate identity for over 60 years, said a bank press release. It was originally part of the coat of arms of the Butterfield family, who established the bank in Bermuda in 1858.

The bank’s new corporate colours are “deep blue” and “warm gray” and, according to the bank, symbolic of sea and land in a reference to the island locations where Butterfield has its major operations.

Michael Collins, Butterfield’s chairman and chief executive officer, said in a press release it was the right time to rebrand, because of the group’s expansion to 10 international locations and a wider shareholder base, following the public offering on the New York Stock Exchange in 2016.

The new brand will be adopted by all Butterfield businesses in all markets. To minimise waste, the changeover from the previous marque will be phased in over several months. Clients will begin to see the new brand identity on select marketing materials in the coming weeks, but the complete conversion of all Butterfield materials, signs and online footprint will extend well into 2020.

“With over 50 years of community banking and trust services in Grand Cayman, we are excited to unveil our refreshed brand to the Cayman market,” said Mike McWatt, Butterfield’s managing director in the Cayman Islands.

“Our new brand reflects a sense of the modern as we continue to expand, while maintaining a firm sense of our heritage that has always been distinguishable within our Cayman community.”

McWatt added the first Butterfield Banking Centre to use the new logo and updated interior design will be Camana Bay, which is anticipated to open in the coming months.