WHO WE ARE

Intermarket Securities  is a market-leading full-service brokerage platform offering trade execution/settlement, investment banking & advisory as well as equities & economic research. We intend to partner with our clients by providing a first-mover advantage to capitalize on investment opportunities underpinned by our top-tier service.

VISION

To become the preferred brokerage firm in Pakistan while playing a positive role in capital market development, leading to enhancement in the country’s investor base.

MISSION

We will offer best-in-class service in all our business lines and introduce superior technology solutions while keeping our clients’ interests on top at all times.

COMPANY HISTORY

Start

1995

Change of name to ING Barings Securities (Pvt.) Ltd

2009

Change of status to public limited company.

2015

Ranked #2 Best Local Brokerage in ASIAMONEY Awards

2019

Long term Credit rating raised to A- from BBB+

1994

Incorporated in Pakistan

2002

Change of Sponsor and change of name to Intermarket Securities Pvt. Ltd

2014

Corporate restructuring and launch of IMTrade

2017

Market Share reaches to 5%

2021

BRM rating raised to BRM2+ FROM BRM2

BOARD OF DIRECTORS

Erum Bilwani

Chairperson

Mrs. Bilwani is the sponsor and major shareholder of Intermarket Securities, which was created post the acquisition of ING Barings Pakistan operations in the early 2000s.

She is a successful Pakistani businesswoman and investor with diversified experience in the financial sector primarily in the capital market. She is also a philanthropist and has worked with various NGOs in Pakistan, with a keen focus on making Pakistan better for women and developing opportunities for women to gain education and work in a safe and reputable environment. Mrs. Bilwani holds a Bachelors’s degree in Economics from the University of Karachi.

Wajid Hussain

Chief Executive Officer

Wajid has over 25 years of experience in Pakistan’s capital market and has held key management positions throughout his career. Before joining Intermarket Securities Ltd in 2018, he was the CEO and Board member at Global Securities for almost 15 years. He has forged strong business relationships with the top financial institutions in Pakistan.

Since joining IMS, he has been instrumental in initiating new trading relationships to expand the firm’s client base and market share.

Raza Jafri, CFA

Head of Equities

Raza possesses about 15 years of experience in sell-side equity research and sales. He is also an elected Board Member of the CFA Society Pakistan. Prior to joining IMS, he was Head of Research at AKD Securities Limited. Raza carries an in-depth understanding of majors sectors at the PSX with a specialization in covering Commercial Banks.

He was awarded “Best Analyst of 2015/16” by CFA Society Pakistan and was also recognized for “Best Banks Coverage” by AsiaMoney in 2012. Raza graduated from the Lahore University of Management Sciences and is a CFA charter holder.

Rehan Alam

Independent Director

Rehan started his professional career at KPMG Taseer Hadi & Co. a member firm of KPMG International. During his tenure at KPMG, he served at various multinational clients working in varied economic sectors including Maersk Pakistan and Singer Pakistan.

He joined Intermarket Securities in late 2014 and brings with him diversified work exposure in the fields of Finance, Compliance, and Audit & Assurance.

MANAGEMENT

Wajid Hussain

Chief Executive Officer

Wajid has over 25 years of experience in Pakistan’s capital market and has held key management positions throughout his career. Before joining Intermarket Securities Ltd in 2018, he was the CEO and Board member at Global Securities for almost 15 years. He has forged strong business relationships with the top financial institutions in Pakistan. Since joining IMS, he has been instrumental in initiating new trading relationships to expand the firm’s client base and market share.

Raza Jafri, CFA

Head of Equities

Raza possesses about 15 years of experience in sell-side equity research and sales. He is also an elected Board Member of the CFA Society Pakistan. Prior to joining IMS, he was Head of Research at AKD Securities Limited. Raza carries an in-depth understanding of majors sectors at the PSX with a specialization in covering Commercial Banks.

He was awarded “Best Analyst of 2015/16” by CFA Society Pakistan and was also recognized for “Best Banks Coverage” by AsiaMoney in 2012. Raza graduated from the Lahore University of Management Sciences and is a CFA charter holder.

Muhammad Fahad Zia

Head of Domestic Institutional Sales

Mr. Zia has over 15 years of experience in Equity Sales & Trading. Prior to joining, IMS he was Head of Sales & Trading from 2015 at Global Securities Pakistan Limited (formerly UBS Pakistan). He has a deep understanding of market dynamics and fundamentals and has strong relationships with domestic institutional investors, which also enables him to generate large block trades.

Adnan Khan

Head of International Sales

Adnan has over 12 years of experience in equity sales and trading along with exposure in the banking and retail sectors. Prior to joining IMS, he was working as Deputy Head of International Sales at Foundation Securities where he was servicing Macquarie Securities and Macquarie Bank, as well as several other international clients. He is an ACCA and holds Bachelor’s degree in Commerce.

Wasi M. Khan

Head of Online Trading & Retail

Mr. Khan possesses over 15 years of experience in online brokerage services. Earlier, Wasi served in the Online Trading Division of IGI Securities where he was responsible for planning and executing business and marketing strategies to help the organization in increasing its market share and building long-term relationships with clients.

Mr. Khan was also associated with JS Global Capital, where he was responsible for Managing Sales and Customer Care.

SAIFULLAH KAZMI

Head Of Investment Banking

Mr. Kazmi has nearly two decades of experience in the financial markets, holding key management positions during his tenure. His focus has been capital markets whilst working in leading asset management companies and bank treasuries of Pakistan.

Saifullah has been instrumental in developing and implementing investment strategies for mutual funds and bespoke client portfolios, across a range of asset classes. Saifullah is an alumnus of Kingston University in UK where he studied Business Management at the Kingston Business School.

Wajid Rizvi, CFA

Head of Research

Mr. Rizvi is a seasoned analyst, possessing over a decade experience in a combination of both buy-side and sell-side equity research. Prior to joining Intermarket Securities in 2022, he has worked at JS Global Capital in the capacity of Head of Strategy and Economy where he covered Strategy, Economy, and Energy Chain. He has also served at KASB Securities and Fortune Securities in the capacity of Head of Research where he covered Economy, Strategy, Oil & Gas Sector and Cement Sector.

He holds a bachelor’s degree in Business Administration from Institute of Business Administration (IBA), Karachi and he is a pursuant of CFA designation.

Yusra Beg

Deputy Head of Research

Ms. Beg has more than 7 years of work experience in sell-side equity research. Prior to joining IMS in 2015, Yusra worked as an Analyst at IGI Securities Ltd (a Packages Group company). She has covered several sectors in Pakistan but has developed a forte in Banks and Pharmaceuticals. She was ranked the Best Pharmaceutical Analyst in Pakistan by Asia Money two years in a row (2019-20). Yusra is a member of the Association of Chartered Certified Accountants (ACCA).

Zulfiqar Ali, fca

Chief Financial Officer

Mr. Zulfiqar Ali joined Intermarket Securities Ltd (IMS) in August 2021 as Chief Financial Officer. He has over 20 years of experience in the banking and diversified financial sectors. Before joining IMS, he was Deputy General Manager in Habib Bank Limited.

This followed stints at Abu Dhabi Investment Authority, Mashreq Bank and MCB Bank. Zulfiqar is a Chartered Accountant and is a Fellow member of the Institute of Chartered Accountants, Pakistan

Muhammad Younus

Head of Operations

Younus possesses over 15 years of experience in the financial industry. Prior to joining IMS, he served as the Manager Custody & Operations at KASB Securities Limited, which was previously affiliated with the Bank of America Merrill Lynch. He has been instrumental in implementing high-quality back-office operations at IMS, ensuring a smooth customer experience.

Farhan Aslam

Head of Information Technology

Farhan has over 25 years of experience in the Information Technology field and extensive business domain knowledge and working experience in the financial markets. His experience includes working in Umer Brother Member KSE, Global Securities,  he is a Master’s in Information Technologies.