Barclays Bank PLC, Pakistan, one of the largest global banks, has signed a landmark distribution agreement with JS Investments Limited (JSIL), one of the leading asset management companies in Pakistan. Under the agreement, JS Income Fund (JS IF) and Unit Trust of Pakistan (UTP) will be available at Barclay's branches across Pakistan.
The distribution agreement was signed by Ali Raza Siddiqui, Director and Chief Investment Officer, JSIL and Khawaja Asif, Director Consumer Bank, Barclays Pakistan, in terms whereof JSIL appointed Barclays Bank PLC, Pakistan as a distribution company for the funds managed by JSIL. Other senior members of the management teams of both organisations were also present on the occasion.
Speaking on the occasion, Ali Raza Siddiqui commented, "We are delighted at the signing of this agreement as this arrangement between JSIL and Barclays has the potential for great synergies in the future. Barclays is one the largest global banks and partnering with them provides us better access to our broad customer base across the country, along with opening new avenues to reach a wide range of exclusive customer segments." Khawaja Asif said, "The distribution of investment product will form an integral part of our ever growing consumer product suite and will provide our premier customers a complete wealth management solution".
The teams of Barclays Bank PLC, Pakistan and JSIL stressed that the agreement represents only a beginning of the growing relationship between the two organisations. In the near future both companies will work towards the introduction of more customised products, thereby bringing the benefits of more mutual fund products to customers.-PR
Comments
Comments are closed.