FORS Limited provides wealth management reporting and administrative services to family offices, multi-family offices, trust companies and private clients. Butterfield Fulcrum is a hedge fund administrator.

Butterfield and FORS will be brought together into one parent company, headquartered in Bermuda.  They will operate as separate businesses and continue to be run by their current management teams. Terms of the deal were not disclosed.

Henderson and Calveley will serve as chief executive officer and chief operating officer of the parent company, respectively and maintain a significant equity stake in the combined entity.   Henderson will also take on the role of chief executive of Butterfield Fulcrum.  

The deal reunites Henderson and Calveley with Butterfield  where they previously served as senior executives - Henderson was chief executive and Calveley chief financial officer and chief risk officer. In 2009, they acquired FORS where Calveley serves as chief executive.  

The transaction, subject to regulatory approval, is expected to close in the first quarter.