Butterfield Fulcrum Expands Client Focus in the US

Chicago, IL - 20 May 2009

Butterfield Fulcrum, a leading independent administrator for the alternative investment industry, today announced the opening of a Chicago office to focus on client relationship management and US business development. Headquartered in Bermuda, Butterfield Fulcrum now has 11 offices in nine countries. The addition of a Chicago office will complement Butterfield Fulcrum’s existing North American client relationship management capabilities in Waterloo, Ontario.

Mr. Jim Gabriele, previously of Caledonian Fund Services USA, LLC, will run the office and serve as Managing Director, Head of Strategy. He is joined by John Peterson, also previously of Caledonian Fund Services USA, LLC, who will serve as Managing Director of Business Development. “Despite challenging times for the industry, we continue to invest and expand, and the addition of a Chicago office reinforces our commitment to be a leading administrator in the US markets as well as an established global player,” said Akshaya Bhargava, CEO of Butterfield Fulcrum.

The Chicago office allows Butterfield Fulcrum to continue expanding its already prominent client presence in the Midwestern US markets such as Chicago, Minneapolis, and Milwaukee. “We are a global business, but recognize the importance of providing our clients with a single point of contact for all client delivery in their time zone,” said Andy Smith, Global Head of Sales at Butterfield Fulcrum. “This addition to our global network of offices ensures that we are able to continue delivering the best possible service to our clients.”

Mr. Gabriele brings over 15 years of operational and business development experience in prime brokerage and administration services to Butterfield Fulcrum. "Butterfield Fulcrum’s full-service offering and global operating model meets the current requirements of funds and their investors for more frequent reporting and increased transparency,” said Mr. Gabriele. “Their superior client service model perfectly positions the Company to deliver the highest quality service during these dynamic times."

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