PRESS RELEASE

October 21, 2014

Moshe Milevsky

QWeMA Group Acquired by CANNEX

TORONTO, September 16, 2013 – The QWeMA (Quantitative Wealth Management Analytics) Group has been acquired by CANNEX, an independent provider of data and information services to the financial services industry in Canada and the U.S.

Founded as a Fields Institute incubated company in 2005 by York University Professor Moshe A. Milevsky, the QWeMA group develops educational software and provides consulting services to the financial services industry. QWeMA will join CANNEX as a new business unit, retaining its current name. Scientific research activities of the new business unit will be overseen by Dr. Milevsky, who will join the CANNEX board. Faisal Habib, previous QWeMA COO, will lead the new unit, which will be dedicated to original research and development, as well as maintaining and servicing QWeMA’s current software tools (including PrARI™ and NUMERICS). All QWeMA staff will relocate from the Fields Institute to CANNEX headquarters.

CANNEX and The QWeMA Group have worked together for close to two decades, and both are known for their contributions to the retirement industry. Acquiring QWeMA will contribute to the launch of three CANNEX initiatives that will benefit manufacturers, advisors, and consumers looking for, or providing information related to, the retirement income industry.

The Fields Institute is an international centre for research and training in all areas of the mathematical sciences and their applications. Every year, its programs attract more than 4000 participants from around the world. The Institute is supported by the Ontario Ministry of Training, Colleges and Universities, the Natural Sciences and Engineering Research Council of Canada, the National Science Foundation (US), and a growing list of partner universities in Canada, the United States, and Europe.

 

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For more information, please contact
Andrea MacLeod, Communications Officer:
Telephone: (416) 348-9710 x3024
E-mail: communications@fields.utoronto.ca
Website: www.fields.utoronto.ca