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 per cent, 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 per cent stake in Islamabad Diagnostic Centre to Integrated Diagnostics Holding for a total consideration of $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.”