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    UBL wins largest corporate finance house award
    Business Recorder Jun 22 2004:
     
    The CFA Institute formerly known as the Pakistan Chapter of Investment Professional (PCIP), recently held its Annual Award ceremony to present their first awards for best equity research analyst, best equity research house, largest corporate finance house and most innovative financial transaction. Dr. Tariq Hassan, Chairman of Securities & Exchange Commission of Pakistan was the chief guest on the occasion.
The awards were divided in two categories: Equity Research and Corporate Finance.

In the corporate finance category, United Bank Limited was crowned the largest corporate finance house and KASB Securities received the award for most innovative corporate finance transaction of the year. For the award for largest corporate finance house, PCIP sent letters to about 15 financial institutions dealing in corporate finance asking them for the number of transactions and total amount involved. The rankings showed UBL as the winner and KASB Securities as the first runner-up were determined by assigning equal weightage to the number of transactions and the amount, only those transactions were considered where the institution was advisor, joint advisor or main arranger. "The aim was to increase awareness of corporate users and give some inspiration to participants and get them recognition," said Ruhail Mohammed, finance and planning manager at Engro Chemical, who ran this part of the survey. "So now when UBL sends out mandate letters for proposals, they add this on to their list of credentials."

In his keynote address Dr. Tariq Hassan praised the efforts of PSIP to promote financial professionalism in the country by rewarding quality and innovation. He expressed the hope that the initiative taken by PSIP will encourage healthy competition among brokerage houses to write quality research and among banks to promote innovation. UBL has successfully launched its consumer banking recently; this award further strengthens its stance in the banking industry as a Corporate and Consumer power house.
PCIP is a member society of the Association of Investment Management & Research which administers the chartered financial analyst program worldwide and represents 65,000 fund managers, securities analysts and other investment professionals in more than 100 countries. PCIP has 50 members.

     
   
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