Butterfield Fund Services (Canada) Limited (“BFS Canada”), part of Bermuda-based Butterfield Bank Group, has officially opened for business in Halifax.
BFS Canada provides fund accounting and administrative services to managers of hedge funds and alternative investments from its office at Summit Place, 1601 Lower Water Street in downtown Halifax (902 422 1523).
Leading the new company is Sylvain Lacoursiere, Managing Director. Mr. Lacoursiere, who is a Chartered Accountant and Chartered Financial Analyst, has many years’ experience in fund administration. He has worked with Butterfield Bank for seven years; for five years as part of the Butterfield Fund Services team in Bermuda and for two years in a consulting capacity. Prior to joining Butterfield Bank, Mr. Lacousiere was employed by Deloitte.
Mr. Lacoursiere said, “We are very pleased with our decision to base Butterfield Fund Services’ first onshore North American office in Halifax. We look forward to playing an active role in the local business community and working closely with academic institutions in the area to continue to recruit and train fund administration professionals.”
Frank Sebestyen, Senior Vice President and Head of Group Fund Services at Butterfield Bank Group, echoed Mr. Lacoursiere’s sentiments, saying, “Since we announced our decision to locate in Halifax back in November, we’ve enjoyed an extremely high level of cooperation from the many local firms who have assisted us with establishing and outfitting our new office. We are very pleased with the warm reception we’ve received from the Halifax business community.”
Butterfield Fund Services is a leading provider of administrative services to over 800 funds worldwide, serving clients from offices in Bermuda, the Cayman Islands, Guernsey and The Bahamas. In 2006, industry publication HFM Week named Butterfield Fund Services the world’s 12th and 14th largest administrator of fund-of-hedge-funds and single hedge funds, respectively.