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EFG Hermes Pakistan, a subsidiary of EFG Hermes Holding, announced today that it has been named Best International Brokerage Firm in Pakistan for the first time in the 32nd annual Asiamoney Brokers Poll, Asia’s chief equity research poll. The Firm also ranked third in the Best Brokerages for Research, Best Brokerages for Sales, Best Brokerages for Corporate Access, and Best Brokerages for Execution categories.
The Asiamoney Brokers Poll is a vox populi poll that identifies the leading brokerage firms for equities research, sales, and trading in Asia. Voters are institutional investors who represent fund management firms, wealth managers, hedge funds, pension funds, and insurance companies that trade in Asia. A total of 5,734 valid individual responses from 2,876 different institutions, including 462 hedge funds were received.
“The recognition that the team in Pakistan has garnered in the Asiamoney Brokers Poll is a true testament to the kind of foothold that EFG Hermes has been able to attain outside of our core MENA markets and highlights the Firm’s unrivaled frontier market offering,” said Ali Khalpey, CEO of EFG Hermes Frontier. “It is an honor to be distinguished for our hard work by our clients in Asia, and we are excited to continue exceeding their expectations with our service offering, as we work to be a positive partner for economic development in Pakistan and build further upon our presence in the region.”
In 2021, EFG Hermes maintained its first-place ranking in the Kenyan market and increased its market share in Pakistan to 3.3%, due to higher foreign institutional executions. In December, the Firm’s Investment Banking division successfully concluded advisory to TPG’s Evercare Group on the sale of its 50% stake in Islamabad Diagnostic Centre to Integrated Diagnostics Holding for a total consideration of USD 72.35 million, marking EFG Hermes’ first M&A transaction in Pakistan. In the upcoming years, the Firm is pursuing expansion in additional core Asia markets, in a path guided by the current clients’ needs and market developments.
“We are extremely proud of our team for being awarded these prestigious recognitions as a result of their rigorous commitment to offering world-class services and meeting our clients’ ever-evolving needs,” commented Saad Iqbal, Head of Brokerage and Acting Chief Executive Officer of EFG Hermes Pakistan. “We are thrilled to have been voted for as the Best International Brokerage Firm – among other recognitions – by our institutional clients, attesting to our position as the broker of choice in the Pakistani market.”
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About EFG Hermes Holding
With a current footprint spanning thirteen countries across four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) started in Egypt and has grown over 37 years of success to become a universal bank in Egypt with a leading investment banking platform with access to emerging and frontier markets. Drawing on our proven track-record and a diverse team of talented employees, we provide a wide spectrum of financial services that include advisory, asset management, securities brokerage, research and private equity to the entire MENA region.
In 2015, EFG Hermes launched its Non-Bank Financial Institutions (NBFI) Platform, which overlooks activities in the non-banking finance field covering microfinance, leasing, factoring, Buy-Now Pay-Later (BNPL), mortgage and insurance. This falls in line with the Firm’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which has seen the Firm establish a physical presence in Pakistan, Bangladesh, Vietnam, Kenya, Nigeria, the United Kingdom and the United States. In 2021, the firm acquired a controlling stake in aiBANK allowing the Firm to transform into a universal bank in Egypt.
Learn more about us at www.efghermes.com & stay connected with us:
For further information, please contact:
The EFG Hermes Public Relations Team
PublicRelations@EFG-Hermes.com
May El Gammal
Group Head of Marketing & Communications
melgammal@efg-hermes.com
Note on Forward-Looking Statements
In this press release, EFG Hermes may make forward looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes’ belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management’s control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
© Press Release 2022
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