A launch ceremony was hosted for delegates from EFG Hermes to welcome them and show them support on the culmination of their business operations in Pakistan. A team of delegates including Mr. CEO EFG Hermes Karim Awad, CEO Investment Banking and Brokerage, CEO Frontier Markets and other officials.
While address the auspicious gathering, CEO, Mr. Karim Awad said that, “EFG Hermes has been successfully running operations in Egypt, Jordan, Kuwait, Oman, Saudi Arabia, USA, and UK and now in Pakistan. We are very excited to be entering in the Pakistani market at a time when it is full of opportunities”.
He also said that “At the present moment Pakistan is experiencing a very exciting time because the growth within the economy has a lot of potential making Pakistan a lucrative and suitable place for foreign investors like us who anticipate growth momentum in Pakistan’s financial markets in the coming decade”
Also emphasizing on the industry, he said “We thank you all for attending this event, we believe that we as a company will prove to become a healthy competition for the local industry and hope to become a part of Pakistan’s financial markets with a strong footing”
Commenting on foreign investors entering into the local businesses he said that, “Investment in Pakistan will be on merit because of country’s dynamics. Prices of some of the companies here may be overvalued, but the correction will soon happen within next few months after the inclusion”
The event hosted notables from brokerage houses, government, financial institutions and other walks of life who came to show support to the incumbent company. The CEO of IFSL Securities, Mr. Muzammil also addressed the gathering. He said that, “We are really happy and excited to welcome this development from EFG Hermes. We hope for a strong and prolonged relationship between the two companies and hope to carry it forward.”
Commenting on withdrawal of foreign companies from Pakistan post 2008 crisis, he said that while it was true that, many a times in the past, foreign investors had withdrawn from the market because of economic or political reasons, he was sure that it would not be the case this time.