CLSA to take a 24.9% stake in Alfalah Securities to create Alfalah CLSA Securities

Karachi / Hong Kong, Thursday, 30th August 2018: Bank Alfalah Limited (“Bank Alfalah”), the majority shareholder of Alfalah Securities (Private) Limited (“Alfalah Securities”), and CLSA JV Holdings Limited (“CLSA”), a subsidiary of CITIC Securities, are pleased to announce a strategic partnership in Pakistan that will leverage Alfalah Securities’ market leading position and CLSA’s award-winning research and outstanding client base of global institutional investors.

President & CEO of Bank Alfalah, Mr. Nauman Ansari said: “This is a very exciting time for Bank Alfalah and Alfalah CLSA. We are committed to growing Alfalah CLSA into the leading securities firm for equities broking, research and investment banking in Pakistan. Through the award winning global brands of CLSA and CITIC Securities, Bank Alfalah’s wide local presence and the knowledge and expertise of Alfalah Securities’ management, Alfalah CLSA will offer unrivalled expertise, services and credentials in Pakistan.”

CEO of CLSA Mr. Jonathan Slone said: “Pakistan is a key market for CLSA and one where we have had a long-standing interest. Our strategy is to establish an on-the-ground presence in all major Asian markets, with a particular focus on markets in the Belt and Road Initiative. I am confident that this investment will provide our clients enhanced access to a dynamic frontier market with exciting investment opportunities, while expanding CLSA’s Asia research coverage and distribution footprint.”

Mr. Slone further added. “CLSA has been one of the largest foreign brokers in Pakistan for many years in terms of portfolio flows in and out of the market. This investment cements a longstanding relationship with Alfalah Securities, one of our counterparty brokers in Pakistan, Bank Alfalah and Mr. Aliuddin Ansari himself.”

Mr. Aliuddin Ansari said: “I am really pleased to partner with Bank Alfalah & CLSA in Alfalah CLSA Securities which will provide a gateway to Pakistan for international investors and corporates especially from China. CLSA and Alfalah recognize the potential opportunity in our market and are partnering strategically to build a strong institutionalized platform.”