Mitsubishi UFJ Trust and Banking Corp (MUTB) announced the completion of its acquisition of Butterfield Fulcrum Group (BFG). MUTB bought the firm from BV Investment Partners in a deal that was culminated on September 20. No financial terms were disclosed. As a result of the transaction, the Bermuda-based alternative fund company was rebranded as Mitsubishi UFJ Fund Services. The official rebranding ceremony was held on October 9 in Bermuda. The Mitsubishi UFJ Financial Group owns MUTB.

MUTB President Tasuo Wakabayashi said, "Our acquisition of BFG is a strategic move into the alternative fund administration business. We will be expanding our reach and breadth of services rapidly. Clients can look forward to the addition of numerous new services including banking, custody, trust, foreign exchange and securities lending."

Mitsubishi UFJ Fund Services Chief Executive Officer Glenn Henderson said, "We will grow from strength to strength within the MUTB family. The additional services we will be offering will allow us to continue our focus on excellent client service, expanded functionality and cutting edge technology."