sentences:  EFG Hermes was granted a license from the Capital Market Authority (Saudi Arabia) (CMA) to launch its operations in the Kingdom of Saudi Arabia in March 2007 offering securities brokerage, investment banking, asset management and research services in the largest investment market in the region.The brokerage arm reached the #1 position among the 12 independent brokerage companies, despite having started trading properly only in 3Q 07.EFG Hermes, inaugurated its office in Pakistan, making it the first foreign investment bank to directly enter the market since 2008 and the first foreign broker to have a local footprint in the country.