07 November 2010
BRAC EPL Stock Brokerage Limited, one of Bangladesh’s leading brokerage firms, has signed a research agreement with Macquarie Securities Group (MSG), the equities broking unit of Macquarie Group (Macquarie, ASX:MQG).
The agreement enables MSG’s clients to receive co-branded equity research from BRAC EPL’s experienced team that is focused on Bangladesh. BRAC EPL will benefit from MSG’s regional expertise and global network to distribute the research.
“As we continue to build our Asian platform, Bangladesh is a significant addition to our offering,” said Mark Duncan, Head of MSG, Asia. “By joining forces with BRAC EPL we are ensuring that our global client base will have access to unrivalled local market knowledge.”
MSG continues to expand into emerging markets in Asia and recently signed a strategic co-operation agreement with VinaSecurities, a leading Vietnamese securities company. MSG has one of the world’s strongest Asia research coverage with 1200 Asian stocks covered. The securities firm has membership of 22 exchanges and distribution capabilities into most major financial centres globally.
“We are pleased to partner with Macquarie Securities Group, whose strength and commitment in emerging markets is unparallel” said Saiful Islam, Managing Director of BRAC EPL Stock Brokerage Limited. “BRAC EPL has an excellent track record in facilitating foreign portfolio investment in Bangladesh, and our research team is best equipped to meet the information need of foreign institutional investors”.
BRAC EPL officially commenced operation under a new management team on 1 October 2009. It was previously known as Equity Partners Limited (EPL). BRAC Bank Limited acquired 51% of its equity in August 2009.
Mr. Duncan and Mr. Islam signed the agreement on behalf of their respective companies in the evening of November 4, 2010 at The Westin Hotel Dhaka. The event was attended by Mr. Muhammad A.(Rumee) Ali, Chairman, BRAC Bank and BRAC EPL, noted business leaders of Bangladesh and capital market participants.
In Hong Kong, Macquarie Securities Group (MSG) conducts its activities through Macquarie Capital Securities Limited.
For further information, please contact:
Head, Media & Communications Asia
Macquarie Group of Companies
Phone: +852 3922 3591
Mobile: +852 9039 4379
Head of Corporate Affairs & Admin
BRAC EPL Investments & Stock Brokerage Limited
Phone: (8802) 9514731-40 Ext: 206
About Macquarie Group and Macquarie Securities Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services.
Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world.
Macquarie Group Limited is listed in Australia (ASX:MQG; ADR:MQBKY) and is regulated by APRA, the Australian banking regulator, as the owner of Macquarie Bank Limited, an authorised deposit taker. Macquarie also owns a bank in the UK, Macquarie Bank International Limited, which is regulated by the FSA. Macquarie's activities are also subject to scrutiny by other regulatory agencies around the world.
Macquarie’s approach to risk management is long-standing. Strong risk management practices are embedded in business unit management with central oversight of credit, market, funding, compliance and operational risk. These, together with a strong, committed team are key drivers of Macquarie’s success.
Founded in 1969, Macquarie employs more than 15,500 people in approximately 70 office locations in 28 countries.
At 30 September 2010, Macquarie had assets under management of $A317 billion. Macquarie Securities Group (MSG) is fully committed to Asia in both research and distribution. The securities firm has membership of 22 exchanges and distribution capabilities into most major financial centres globally. MSG has more than 1900 staff in offices world wide including Boston, Frankfurt, Geneva, Hong Kong, Johannesburg, London, Mumbai, New York, Tokyo, Toronto, Seoul and Sydney.
About BRAC EPL
BRAC EPL Stock Brokerage Limited, a Subsidiary of BRAC Bank is a pioneer in knowledge based investing in the Bangladesh capital market with a strong commitment toward investment research. BRAC EPL Stock Brokerage Limited has membership at both of the country's stock exchanges. The firm is one of the volume leaders in domestic trading and the undisputed leader in foreign portfolio transactions in the Bangladesh market. BRAC EPL is a subsidiary of BRAC Bank Limited, one of the fastest growing banks in Bangladesh. A member of BRAC Enterprises, the bank operates under a "triple bottom line" agenda with a focus on “Profit, People and Planet”.