Bermuda's global fund administrator for the hedge fund and alternative investment management industry Fulcrum Limited, has announced the hire of industry veteran Fred Jacobs, as managing director, Business Development in the US.

Reporting directly to the Global Head of Sales Glenn Henderson, Mr. Jacobs will lead sales and marketing efforts in the US. He is also charged with sourcing and closing new business for that area and overseeing client service. In addition, Mr. Jacobs joins Fulcrum's global executive management team, which is responsible for leading the firm's strategy and growth.

"Fred brings twenty years of experience in global financial services and alternative sales and relationship management to Fulcrum," said Mr. Henderson.

"His expertise in creating opportunities to access new markets, and his extensive network of contacts with key business leaders, will serve as vital additions to Fulcrum at this stage of the firm's evolution.

"Fred is well known in the Hedge Fund Administration industry, and we expect him to play a leadership role in the growth of our business," said Fulcrum's chief executive officer Akshaya Bhargava.

Mr. Jacobs joins Fulcrum from PFPC Global Fund Services, where he served as senior vice president for Global Fund Business Development. In that position he was responsible for managing the international and alternative investment sales forces and developing strategy.

Prior to joining PFPC in 1996, Mr. Jacobs was responsible for marketing investment management services and trust products in Latin America for the international private client division of Bank of America, in Los Angeles. Mr. Jacobs also worked for extended periods as an international trade banker in the US, Europe and Asia.

"Fulcrum has created a scalable platform for growth — with the people, processes, and technology in place that allows for exceptional client service. Few if any fund administrators can match our ability to deliver in all areas," said Mr. Jacobs.

"I am particularly excited to be joining Fulcrum following the recent investment in the firm by 3i. This new partnership combined with the existing service model makes Fulcrum a unique proposition in the market."