EFG-Hermes is an
investment bank in the
Middle East and
North Africa (MENA) region and specializes in
securities brokerage,
asset management,
investment banking,
private equity and research. It serves a range of clients including governments, corporations, financial institutions, high net worth individuals and retail customers. EFG-Hermes is listed on the
Egyptian Exchange (EGX) and
London (LSE) stock exchanges. EFG-Hermes has offices in
Egypt, the
United Arab Emirates (UAE), the
Kingdom of Saudi Arabia (KSA),
Qatar,
Oman,
Kuwait and
Lebanon with over 850 people from 30 nationalities. They serve clients from including the
Middle East,
North Africa,
Europe and the
United States.
In FY 2007, its
market capitalization exceeded USD 4.6 billion,
shareholder's equity was USD 1.7 billion and
net profit grew by 89% to USD 232 million. EFG-Hermes is the largest shareholder in Bank Audi, one of the region’s leading banks, with a stake exceeding 28%.
History
EFG, also known as the Egyptian Financial Group, became the first
investment banking firm in
Egypt when it was established 1984. Hermes was founded in 1993 under the newly promulgated Capital Markets Law 95. EFG created and analyzed
privatization plans for the Egyptian government for several years. In 1993, The Egyptian Financial Group and Hermes independently made a move into securities brokerage. The two companies competed and both companies brought many investment strategies that were common to the west to
Egypt as...
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