Sean Foley Appointed CFO of Butterfield Fulcrum Group of Companies

NEW YORK, NY and LONDON and WATERLOO, ON--(Marketwire - May 18, 2011) - Sean Foley, CA, has been appointed the Chief Financial Officer and Chief Administration Officer of Butterfield Fulcrum, a leading independent fund administrator, and FORS Limited, an independent provider of family office and wealth management reporting and administrative services.

Butterfield Fulcrum and FORS were recently brought together into one entity offering comprehensive outsourcing solutions across the alternative investment management, family office and trust industries. The two companies are run as separate businesses by their respective management.

Prior to being appointed as CFO and CAO of Butterfield Fulcrum and FORS, Mr. Foley served as the Group Financial Controller for Butterfield Fulcrum. Mr. Foley, who is located in Butterfield Fulcrum's Waterloo, Ontario office, has over 14 years of experience in financial leadership roles at public and private Canadian companies.

"We are delighted to expand Sean's role within the new entity, providing continuity to our team," said Glenn Henderson, CEO of Butterfield Fulcrum. "He will be responsible for the integrity of the companies' financial information and systems, as well as a key part of the executive team at Butterfield Fulcrum and FORS."

Mr. Foley graduated from the University of Regina in Saskatchewan, Canada with a Bachelor of Administration degree. Mr. Foley began his career with Ernst and Young and holds a Canadian Chartered Accounting designation.

Note to Canadian Editors - Butterfield Fulcrum and FORS, which services $100 billion in assets under administration, employ over 100 people in Canada with three offices: Toronto; Waterloo, Ontario; and Halifax, Nova Scotia.

About Butterfield Fulcrum

Butterfield Fulcrum is a leading independent alternative fund administration company by assets under administration with more than two decades of experience servicing clients in the alternative investment industry. Butterfield Fulcrum provides administration, middle office and risk reporting services to hedge funds, fund of funds, managed accounts, private equity and real estate funds. Headquartered in Bermuda, the company services more than 700 funds and has 10 offices in eight countries and employs over 500 people. For more information, please visit www.bfgl.com.

About FORS

FORS Limited is an independent global organization providing accounting and reporting solutions to Family Offices, Multi-Family Offices, Trust Companies and Private Clients. FORS has offices in Bermuda, New York, Singapore and Toronto. The FORS team is committed to providing an exceptional level of personalized service focusing on meeting the unique demands of our clients, utilizing a leading family office web based technology platform to provide reporting solutions on client assets in excess of $25 billion. Its range of services include: a comprehensive accounting solution for family offices and trustees, preparation of financial statements, customized reporting solutions, investment monitoring, performance reporting, and family office administrative services. For more information, please visit www.fors.bm.