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Webinar presented by CFA Institute Research Foundation and CFA Society Pakistan

Webinar Presentation

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Following liberalization measures in the 1990s, Pakistan’s stock market has modernized its operational architecture. The country offers attractive valuations relative to other emerging markets and an economy driven by strong domestic consumption.


  • Larry Cao, CFA, Senior Director, Industry Research, CFA Institute
  • Mohammad Shoaib, CFA, Founding CEO, AI Meezan Investment Management Ltd.
  • Raza Jafri, CFA, Head of Equities at Intermarket Securities Ltd.
  • Sateesh Balani, CFA, Head of Research, Providus Capital

Watch the Webinar

Duration: 1 hr 4 min.

Recorded: 5 August 2021.


Larry Cao
Larry Cao CFA

Larry Cao, CFA, is senior director of industry research at CFA Institute. He conducts original research with a focus on investment industry trends and investment expertise. Mr. Cao’s current research interests include multi-asset strategies and fintech. He frequently speaks at industry conferences on these topics and has more than 20 years of experience in the investment industry. Mr. Cao started his career at the People’s Bank of China as a US dollar fixed-income portfolio manager. He has worked at HSBC as senior manager for the Asia-Pacific region; Munder Capital Management, managing US and international equity portfolios; and Morningstar/Ibbotson Associates, managing multi-asset investment programs for a global financial institution clientele. Mr. Cao has been interviewed by a wide range of business media, including Bloomberg, CNN, the Financial Times, South China Morning Post, and the Wall Street Journal. He pursued graduate studies at Harvard University and was a visiting scholar at MIT.

Mohammad Shoaib
Mohammad Shoaib CFA

Mr. Mohammad Shoaib, CFA is the founding CEO of Al Meezan Investment Management Ltd., the first and the only full-fledged Shariah Compliant Asset Management Company in Pakistan. Al Meezan is also the largest asset management company in Pakistan managing about USD 950 million on behalf of clients. Shoaib has over 28 years of experience in managing investment portfolios. Shoaib holds an MBA degree from IBA besides being a Chartered Financial Analyst (CFA) charter holder. Shoaib has been a speaker at various conferences on Islamic Asset Management in Middle Eastern and Far Eastern countries. He has also been featured in CFA Magazine with reference to his contribution to Islamic asset management, corporate governance and volunteer leadership roles.

Raza Jafri, CFA
Raza Jafri CFA

Raza Jafri, CFA, is head of equities at Intermarket Securities Limited. He has more than 13 years of experience in equity research and sales in Pakistan and specializes in covering commercial banks. Mr. Jafri serves on the board of directors of CFA Society Pakistan. He holds a bachelor of science degree (honors) in finance and accounting from the Lahore University of Management Sciences.

Sateesh Balani, CFA
Sateesh Balani CFA

Sateesh Balani, CFA, is head of research at Providus Capital and possesses a decade of diversified finance- and investment-related experience. Previously, he was head of research at HBL Asset Management Limited (AML), where he was part of the investment committee, managing fixed income, equity, and asset allocation portfolios. Before joining HBL AML, he was responsible for making feasibilities and analyzing potential business ventures at Engro Corporation and its energy holding company. Mr. Balani also worked at Elixir Securities in equity research covering the energy and industrial sectors. He holds an MBA and a bachelor’s degree from the Institute of Business Management, Karachi. Mr. Balani serves on the board of CFA Society Pakistan.