Company Profile

 
INTRODUCTION


First National Equities Limited was incorporated as a Public Limited Company on 3rd October 1994. The Company started its operations on 7th February 1995. It is a Corporate Member of Karachi Stock Exchange (Guarantee) Limited and registered as a Brokerage House under the Brokers & Agents Registration Rules, 2001 with Securities and Exchange Commission of Pakistan. Presently the FNEL is mainly engaged in the business of brokerage. However after obtaining “Investment Finance Services (IFS)” license; it has planned to undertake various activities of IFS.

Investment in Marketable Securities and Brokerage Commission is the prime source of Company's income. Since its inception to date FNEL has gained a good reputation & prominent position among local brokerage houses. Its comprehensive, high quality and discrete financial services have guaranteed the continuous trust of portfolio and strategic investors. FNEL's long-term development strategy is based on good relations with customers and mutual trust. The management, the sales team, analysts and other professionals of FNEL share a common vision of FNEL's future - to maintain a distinguished position in the capital market and extend its services portfolio.

THE BOARD OF DIRECTORS

The Board of Directors of the Company comprises of eminent business personalities having vast business experience spanning over decades including more than 10 years of financial markets. The brief detail of business experience of the directors is as under:
 

1.          Sheikh Khalid Tawab                         Chairman

Mr. Khalid Tawwab is a seasoned businessman having vast experience of local and international business, trade and industry. He is Honorary Consul General of the Government of Mozambique. He has served as Senior Vice President of KCCI and for two years remained acting President of the Karachi Chamber of Commerce & Industries. He has held the Chairmanship of Pakistan Romania Trade Committee and directorship of Pakistan Shippers Council. He is the Chairman and Chief Executive of  Excel Industries Limited, F. Rabbi Steel (Pvt.) Limited ; and Director Yarmouk Paper & Board Industries (Pvt.) Ltd.

 

2.           Mr. Ali Aslam Malik                             Chief Executive Officer

Mr. Ali Aslam Malik is the Chief Executive of the Company. He obtained his Masters in Commerce from Hailey College of Commerce, University of Punjab, Lahore. He attended numerous workshops and courses on Investment, Risk Management, Management Information Systems, Corporate & Quality Management local and national security from institutional local & abroad. He is also an alumnae of National Defense College, Islamabad.

Mr. Malik is an entrepreneur having to his credit over fifteen years of experience in the field of Business, Investment Banking, Stock Brokerage, Funds Management, Equity and Debts Instruments, Underwriting, Placements, Syndication and Corporate Research. He is also advising a lot of Companies other than his own group of  companies. Mr. Malik is also advising to a number of financial institutions and corporate organizations in both private and public sector.

3.            Mr. Malik Atiq- ur- Rehman

 Mr. Malik is an industrialist having over three decades long experience of business and industry. He has represented Government of Pakistan in numerous overseas delegations including at International Labor Organization, UNO in Geneva. He holds directorship in  Excel Industries Limited, Accord Processing & Trading Works (Pvt.) Limited , and  Nouvell (Pvt.) Limited. He is presently Senior Vice Chairman of All Pakistan Recycle Paper Board Manufacturing Association of Pakistan.

 

4.           Mr. Mohammad Iqbal Khan

Mr. Khan, Chartered Accountant by qualification, is partner in M/s. Sajid Iqbal & Co., Chartered Accountants. Before launching the accountancy firm, he had served as Group General Manager, Nagina Group of Companies. He had been looking after Taxation, Accounts & Audit, Finance and Legal Issues of the group concerns – five listed and five unlisted companies. He is a visiting faculty member as SKANS School of Accountancy, Lahore since 1993 and imparting quality education to aspiring CAs. Besides CA, he is also Fellow of Pakistan Institute of Public Finance Accountants (FPA). 
 5.          Mr. Shahzad Akbar 

Mr. Akbar is a Commerce Graduate and holds more than ten years extensive experience in manufacturing sector. He also possesses vast international banking experience. He has worked as Sr. Financial Services Officer at Bank of America, Houston, USA and as the Business Banking Specialist at Bank United, USA. He is currently the CEO of Millennium Buying House which is one of the largest procurers of dyed yarn and ready made garments in Lahore. He also holds the position of CEO at Trisoft International Inc. whose clients included Hay Group (world's largest HR firm) among many others. 

 

6 .           Mr. Yoshihiro Saito  

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7 .          Maj Gen (Retd) Khurshid Ali Khan  

Major General (Retd) Khurshid Ali Khan has served in the Pakistan Army for almost 30 years across various ranks. In view of his outstanding professional military accomplishments he was awarded the Hilal - e-Imtiaz (Military)  .

After his retirement from the Armed Forces in 1987, he was deputed as the Ambassador to Portugal from 1989 to 1991 by the Government of Pakistan. He was also appointed the Vice Chancellor of Peshawar University in 1993. In the same year, GOP appointed General Khan as the Governor NWFP and ex-offcio Agent to the President of Pakistan   for the Federally Administered Tribal Areas (FATA). He served in these capacities uptil   1996. Maj Gen (Retd) Khurshid Ali Khan is also serving on the board of First Pakistan Securities Limited.

During his accomplished and highly illustrious professional life spanning over five decades, General Khan has had a highly enterprising career and his presence at the Board of First National Equities Limited is a source of invaluable insight to the Company.
 

8.           Mr. Jahanzeb Luni  

Mr. Jahanzeb Luni inducted to the Board of First National Equities Limited on July 01, 2007. He completed his graduation from Balochistan University, Quetta in 1998, besides having a much diversified portfolio of expertise. He is not only a very active member in the corporate sector but also having a good experience of mining industries. He has an extensive knowledge about the geological plateau of minerals rich Balochistan.

He is also serving as District Nazim of Loralai, Balochistan, as well as, having very good interaction with World Bank over various development projects in Balochistan, besides a close liaison with World Bank on Fiscal Decentralization in Pakistan. 


THE MANAGEMENT
The Company is managed by a dedicated team of highly qualified and experienced professionals and well-reputed sponsors. The management team carries vast experience of the capital markets and enjoys a competitive edge with its risk management skills to make prudent investment decisions taken on rational equity market analysis.
 
The brief profile of the key members of the management team is as under:
 

1.          Sheikh Khalid Tawab                      Chairman  

Please refer to The Board of Directors

  2.         Mr. Etrat Hussain Rizvi                  Advisor
Mr. Rizvi brings rich and versatile experience coupled with sound academic and a track record of achievements including the creation, revival and consolidation of institutions. He has over 31 years experience of working in private and public sectors in the fields of banking, development financing, manufacturing, utility and regulatory organizations. He has also been the key person in the development of the Code of Corporate Governance, Insurance Rules, Private Pension System, NBFC Rules, Prudential Regulations for NBFCs, Code of Conduct for credit rating companies etc. Mr. Rizvi is the advisor of the company. His last assignment was Commissioner SECP. He has also been the Chairman of The Bank of Khyber, Managing Director of National Development Leasing Corporation and Managing Director of Paramount Leasing Ltd.

3.           Mr. Ali A. Malik                                 Chief Executive Officer  

Please refer to The Board of Directors.  
4.           Mr. Ali Raza                                       Head of Operations  
Mr. Ali Raza has in depth knowledge of financial management, accounting and front & back–office operations of capital markets.  He has worked with leading institutions like ABN AMRO Equities and holds diversified experience in brokerage operations.  
5.          Mr. Mohammad Rafique                  Regional Manager South
Mr. Muhammad Rafique is an Associate Member of Institute of Cost & Management Accountants of Pakistan. Besides that, he also holds Master in Economics from Karachi University . He has been CFO & Company Secretary of FNEL and laid solid foundations of the company. He has worked with several prestigious financial institutions including Saudi Pak Commercial Bank Limited. He has gained valuable experience of banking and capital markets over the years.

6.           Mr. Kashif Amjad                             Head of Risk Management

Mr. Kashif Amjad is an MBA from the International University, Missouri, USA. He has more than 10 years of experience working in an investment bank with special exposure to risk management. Prior to joining FNEL, he was dealing with the brokerage business of our leading corporate concerns in Pakistan. Before joining FNEL, he was holding various managerial positions.

7.           Mr. Mohammad Ali                           Regional Manager Central & North

Mr. Muhammad Ali Khan has been appointed as Regional Manager Central & North. Mr. Khan has undertaken Masters in Economics from Pujab University. His previous experience includes working as Business Development Manager at reputed brokerage houses at LSE. He has also served as Marketing Manager at Ittefq Group of Companies & Sampak Group of Industries.

8 .         Mr. Shaikh Tajamal Rashid            Company Secretary & Chief Financial Officer

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Sheikh Tajamal Rashid is an Associate Member of Institute of Chartered Accountants of Pakistan. Having en eleven years of practical experience of financial management, accounting, banking and finance, textile and power sector. He is responsible for supervising and monitoring all accounting functions and reporting requirements, liasing with the auditors, tax consultants and regulatory authorities. He is also responsible for ensuring compliance with the Companies Ordinance 1984, Code of Corporate Governance and all other relevant laws and regulations.

9 .         Syed Ali Adnan Jafry                      Head of Corporate Finance

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Syed Ali Adnan Jafry has joined FNEL in the capacity of Head of Corporate Finance. He is a Chartered Accountant & Associate Member of Institute of Chartered Accountants of Pakistan (ICAP). He embarked on his professional career at Ford Rhods Sidhat Hyder & Co. in 2002 as Assistant Manager Audit.

He then moved to Nishat Mills Limited where he served from May 2002 to June 2004 as Manager Accounts. He was subsequently transferred to Gulf Nishat Apparel Limited in May 2005 in capacity of Chief Financial Officer (CFO). Mr. Jafry has got extensive and thorough experience in the matters related to corporate Finance, Supervision and Management of Finance & Accounts Department.

 

10.        Mr. Tariq Masood                             Head of IT

Mr. Tariq Masood brings with him more than eleven years of diversified professional experience. MCS and MA(Economics) with honor's, Mr. Tariq Masood started his careers in PTCL as a Data Control Assistant in December 1995. Since then he has been engaged in various prestigious institutions like PTCL, NADRA & Asian Soft on different IT Positions and involved to develop and integrate their software. Before joining FNEL, Mr. Tariq Masood was serving as System Engineer in National Database and Registration Authority (NADRA) where he completed many projects like Civil Registration Management System (CRMS) for Lahore and Sialkot districts local Government, Computerized Registration Deeds (CRD) for local Government Lahore District, NADRA Welfare Literay Program Lahore. He has also served in NADRA Swift Registration Centre as Technical Manager and Database Administrator in a Software house named Asian Soft Lahore. His responisbilities included: Problem Analysis, Database Modeling, Writing Business Processes, Complex & Accumulated Report Generation, Technical Documentation, Timeline and Management of Milestone and Tasks etc.
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