First Metro dominates the fixed income securities market

April 24, 2023

In photo from left are Philippine Depository & Trust Corp. president & CEO Ma. Theresa B. Ravalo, PDS Group president & CEO Ramon S. Monzon, First Metro FVP and Sales & Distribution Group head Peter Anthony D. Bautista, First Metro president Jose Patricio A. Dumlao, First Metro EVP and Investment Banking Group head Daniel D. Camacho and Philippine Dealing & Exchange Corp. president & CEO Antonino A. Nakpil.

First Metro Investment Corporation was awarded its second consecutive Cesar E.A. Virata Award for Best Securities House (Investment House Category) by the Philippine Dealing System Holdings Corp. Group (PDS Group) in its 2023 PDS Annual Awards. The award, named after former Prime Minister and PDS Group Chairman Emeritus Cesar E.A. Virata, is a testament to the company’s dedication to the fixed-income securities business, evidenced by its exceptional performance in trading, distribution and settlement activities for the year.

Accepting the award during the awarding ceremony held recently, First Metro president Jose Patricio Dumlao said, “This second consecutive Cesar E.A. Virata award is especially meaningful as we celebrate our 60th anniversary this year. In the long history of First Metro, we have always found our humble achievements more meaningful and special in the robust fixed income market under the stewardship of the PDS Group. This recognition is a testament not only to our relentless efforts to be among the best in the industry, but also to our contribution to the development of the Philippine capital markets.”

First Metro was also recognized as the Top Fixed-Income Brokering Participant and among the Top 5 Corporate Issue Managers/Arrangers.

First Metro accounted for 72% of capital markets transactions in the country and raised a total of P1.1 trillion for both the public and private sectors.

In his speech, Mr. Dumlao acknowledged First Metro’s employees, clients and partners, “I may be standing here to accept this award, but it truly belongs to the dedicated, determined, and talented men and women at First Metro that I have had the good fortune to work with in the past few years. I would also like to acknowledge our clients and partners whose trust and support have not wavered through all these years.”

This is First Metro’s 6th Cesar E.A. Virata Award for Best Securities House. Its parent bank, Metrobank, also received the same award for the bank category.

Celebrated annually since 2006, the PDS Group Awards Night recognizes its member institutions that have exhibited outstanding performance, leadership, innovation, and overall contribution to the development of the capital market.