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UBL wins largest corporate finance house
award |
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Business Recorder Jun 22 2004: |
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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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