URGENT: US PPI declines by 0.2% in May    Egypt secures $130m in non-refundable USAID grants    HSBC named Egypt's Best Bank for Diversity, Inclusion by Euromoney    Singapore offers refiners carbon tax rebates for '24, '25    Egypt's CBE offers EGP 4b zero coupon t-bonds    G7 agrees on $50b Ukraine loan from frozen Russian assets    EU dairy faces China tariff threat    Over 12,000 Egyptian pilgrims receive medical care during Hajj: Health Ministry    Egypt's rise as global logistics hub takes centre stage at New Development Bank Seminar    Blinken addresses Hamas ceasefire counterproposal, future governance plans for Gaza    MSMEDA, EABA sign MoU to offer new marketing opportunities for Egyptian SMEs in Africa    Egypt's President Al-Sisi, Equatorial Guinea's Vice President discuss bilateral cooperation, regional Issues    Egypt's Higher Education Minister pledges deeper cooperation with BRICS at Kazan Summit    Gaza death toll rises to 37,164, injuries hit 84,832 amid ongoing Israeli attacks    Egypt's Water Research, Space Agencies join forces to tackle water challenges    BRICS Skate Cup: Skateboarders from Egypt, 22 nations gather in Russia    Pharaohs Edge Out Burkina Faso in World Cup qualifiers Thriller    Egypt's EDA, Zambia sign collaboration pact    Madinaty Sports Club hosts successful 4th Qadya MMA Championship    Amwal Al Ghad Awards 2024 announces Entrepreneurs of the Year    Egyptian President asks Madbouly to form new government, outlines priorities    Egypt's President assigns Madbouly to form new government    Egypt and Tanzania discuss water cooperation    Grand Egyptian Museum opening: Madbouly reviews final preparations    Madinaty's inaugural Skydiving event boosts sports tourism appeal    Tunisia's President Saied reshuffles cabinet amidst political tension    Instagram Celebrates African Women in 'Made by Africa, Loved by the World' 2024 Campaign    Egypt to build 58 hospitals by '25    Swiss freeze on Russian assets dwindles to $6.36b in '23    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EFG Hermes expands frontier markets division, appoints CEO for frontier operations
Published in Daily News Egypt on 03 - 01 - 2017

EFG Hermes, a financial services corporation in the Middle East and North Africa (MENA) region, announced on Tuesday the accelerated expansion of its frontier markets.
"EFG Hermes announces the expansion of our division serving global frontier markets with a particular focus on securities brokerage investment banking and research", said EFG Hermes Group CEO Karim Awad.
He added that transformation into a frontier house is part of the group's strategy communicated to the market in early 2016.
It will be supported by both new hires as well as the existing lines of business and back-office functions, Awad noted.
"EFG Hermes Frontier will be headed by Ali Khalpey, a 20-year veteran of frontier and emerging markets with a proven track record spanning from London and New York to Johannesburg," he said.
Khalpey joins EFG Hermes from Exotix Africa LLP, the frontier-focused specialist investment bank he co-founded and led after a career that included stints with Blackrock, Investec, and Renaissance Capital.
"Our continued drive into frontier markets will be no less significant to the firm's future than was our expansion out of Egypt to become the leading investment bank in the MENA region in the early 2000s," said Mohamed Ebeid, co-head of securities brokerage at EFG Hermes.
"With the acquisition of an on-the-ground presence in Pakistan now in its final stages, our aim in 2017 is to accelerate the rollout of the platform as we open new markets and businesses on the ground," according to Hermes' statement.
EFG Hermes had announced a tender offer on the Pakistan stock exchange for Karachi-based Invest and Finance Securities Limited. Meanwhile, the firm is pursuing a licence in another frontier market and is "carefully studying the potential to make other opportunistic expansions across frontier markets as part of our 2017 plans", says Ebeid.
According to EFG Hermes, the expansion of Frontier comes just weeks after the firm announced it is seeking regulatory approval to open EFG Hermes USA to directly serve US-based institutional clients seeking exposure to MENA and frontier markets.


Clic here to read the story from its source.