Alternative asset administrator Fulcrum Limited opened a Cayman Island branch this month headed by Steven Slessor, CA. 

'The opening of our newest office is part of Fulcrum's ongoing strategic corporate growth plan and will support our steadily increasing roster of funds domiciled in the Cayman Islands,' said Glenn Henderson, CEO of Fulcrum Limited, adding that the Cayman Islands now attracts the majority of newly domiciled off-shore hedge funds. 'We are pleased to promote Steven Slessor from Fulcrum's Canadian operations to spearhead this new office,' he said.

Fulcrum Fund Services (Cayman) Limited received a Mutual Fund Administrator License in July 2006.  The Cayman office was officially opened in August and will be headed by Mr. Slessor as the Manager, Hedge Fund Services. Slessor has spent the past two years as Hedge Fund Account Manager for Fulcrum Fund Administration Limited in Kitchener, Ontario, where he was responsible for operations and new business development. A Chartered Accountant, Slessor has worked in the hedge fund industry for the past five years and was previously at KPMG in Bermuda. 

'This is a strategic and future looking initiative for Fulcrum Limited aimed at serving the needs of our global client base,' said Slessor. 'Our presence in the Cayman Islands will allow our U.S. and European-based clients and our staff to interact with auditors and lawyers in this jurisdiction and fully facilitate the entire fund start-up process'.

Bermuda-based Fulcrum Limited recently opened an office in New York City and expanded its fund administration capacity in Kitchener, Ontario.