Bringing cost efficiencies to institutional and retail investors
MONTREAL, April 13, 2011 /CNW/ -- Tactico Inc., has announced the acquisition of Canadian portfolio management firm, Westmount Markets Inc. The firm will be remodeled as Tactex Asset Management to provide portfolio management services to retail and institutional investors in Canada. Liam Cheung, managing director, Tactico will assume the role of Tactex CEO and Brendan Magill, vice president, will join as COO.
The aim of Tactex is to revolutionize the cost model for portfolio management, driving down fees for customers by establishing an extremely efficient infrastructure. The firm will provide a platform for innovative types of asset management models that will decrease costs, increase transparency and provide innovative options for the trading, custody and branding of investment solutions.
Liam Cheung commented: "Tactico has had years of experience in the securities business in Canada. With Tactex, we have a real opportunity to drive down costs of managing funds, which up until this point, have been unnecessarily high. Drawing on the successful example of our work with Penson Financial, Omega ATS and Fidelity Clearing Canada, we have come up with a way to revolutionize the portfolio management business for the retail and institutional investor in Canada."
Tactex's initial focus will be on providing solutions to the brokerage industry and exchange traded funds (ETF). Tactico completed the acquisition on March 31, 2011.
About Tactico Inc.
Tactico is an international advisory firm specializing in strategic and tactical solutions for the financial services industry. The company provides consulting, venture and transition management, interim c-level staffing and technology solutions. Its leadership team has extensive hands-on experience building and operating successful businesses and navigating dynamic corporate climates. Tactico is committed to enhancing profitability, performance and market impact for its clients and partners in the trading, brokerage, banking, custodial services and wealth management communities.
SOURCE Tactico Inc.
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