Hedge fund administrator Butterfield Fulcrum has opened a Chicago office to focus on client relationship management and U.S. business development. Jim Gabriele, previously of Caledonian Fund Services USA, will run the office and serve as managing director, head of strategy. 

Gabriele is joined by John Peterson, also previously of Caledonian Fund Services USA, 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 U.S. markets as well as an established global player,” said Akshaya Bhargava, CEO of Butterfield Fulcrum.