Mitsubishi UFJ Trust and Banking Corporation (MUTB) has acquired fund administrator Butterfield Fulcrum.
Butterfield Fulcrum will become the global alternative asset administration platform of MUTB, a wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG). The senior management team, as well as all management and staff in all Butterfield Fulcrum offices will remain with the company.
Butterfield Fulcrum was created in 2008 from a merger between Butterfield Fund Services and Fulcrum Group. In 2011 Butterfield Fulcrum Group was acquired, along with wealth management reporting and administrative services provider FORS, by industry executives Glenn Henderson and Tim Calveley together with BV Investment Partners
“Backed by the strength of MUFG, we expect to add numerous additional client services in the near future, including banking, custody, trust, foreign exchange and securities lending,” said Tim Calveley, deputy CEO of Butterfield Fulcrum. “We will be leveraging MUFG’s global brand and presence along with Butterfield Fulcrum’s industry leading technology and talent to expand into new geographies and client opportunities. Importantly, for existing clients, it is business as usual. Our valued clients will have the same client team, same technology and the same high quality of service they expect and deserve.”