Tactico launches Tactex Asset Management

Tactico Inc. has announced the acquisition of Canadian portfolio management firm, Westmount Markets Inc., which will be rebranded as Tactex Asset Management.

The new company will provide portfolio management services to both retail and institutional investors.

Liam Cheung, managing director of Tactico, will assume the role of Tactex CEO. Tactico vice-president Brendan Magill will serve as COO.

“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,” said Cheung. “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 ETFs. Tactico completed the acquisition on March 31, 2011.

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