29 NOVEMBER 2015
EFG Hermes Wins a String of Awards for Outperforming the Market in Egypt, Kuwait and Oman
The Securities Brokerage and Asset Management Divisions of EFG Hermes, the region’s leading investment bank, have received multiple prestigious awards for their 2015 performance from two of the region’s most renowned awards programs.
EFG Hermes Securities Brokerage was the only brokerage house in the region to win awards in multiple markets—Best Broker in Egypt, Kuwait and Oman—from Global Investor Magazine, an internationally acclaimed publication that recognizes top performers in the MENA region. The Brokerage Division was also the only regional brokerage house to win “Best Broker in Egypt” for three consecutive years at the prestigious EMEA Finance African Banking Awards.
“I believe that these awards first and foremost showcase our team’s remarkable ability to maintain focus and deliver consistently strong results within a regional environment that has been characterized by volatility,” said Mohamed Ebeid, Co-Head of EFG Hermes Securities Brokerage.
In Egypt, the team has maintained a market share above 30% throughout 2015 with total executions 39% higher than the number two brokerage house in the country. They have also executed 60% of foreign participation and 22% of the retail business in the third quarter of 2015. Egypt remains the cornerstone of EFG Hermes’s brokerage business with over 50,000 clients who are privy to the firm’s award-winning research and multi-platform, multi-market trading tools.
On the Kuwaiti front, EFG Hermes IFA continued to expand its operation and held on to a first place ranking on the Kuwaiti Stock Exchange (KSE) for two consecutive quarters in 2015. With local client numbers on the increase, the brokerage team in Kuwait has also managed to capture a significant portion of flow from foreign institutional investors and High Net Worth clients.
“We are exceptionally proud of the achievements we have made in Kuwait. I believe that the hard work and effort of the entire team are now truly paying off,” saidAhmed Waly, Co-Head ofEFG HermesSecurities Brokerage and Chief Executive Officer of EFG Hermes IFA. Waly also attributes the use of the new iOS online trading applications to the growth of market share in Kuwait, which currently stands at 27.8%.
On the Muscat Securities Index, EFG Hermes Oman has experienced steady growth since its inception, with a strong market share that reached 30% in the third quarter of 2015. The division, a relative newcomer on the market, currently holds a second place ranking.
EFG Hermes’ Asset Management Division was an equally strong performer in 2015 and has just been named “Best Asset Manager in Egypt,” at the 2015 the EMEA Finance African Banking Awards. The recognition is the latest in a string of prestigious awards that the Asset Management Division has won in 2015. With AUM of USD 2.8 billion, the Division continues to outperform its peers with its diversified portfolio of funds including but not limited to equity, money market and sharia-compliant funds.
Commenting on the strength of the Asset Management team, Amr Seif, EFG Hermes’ Head of Asset Management said, “Our success and ability to consistently outperform the market is a direct result of the excellent performance of our world class team of professionals. With a mandate to grow our assets under management we will continue to foster our talent pool so that we may widen our sales and distribution reach and foster our product range.”
These awards are a reflection of EFG Hermes’ strong overall performance in FY2015. As the region’s leading investment bank, the firm continues to perform well despite market conditions. The ability to overcome challenges is proof of a firm-wide commitment to provide superior results on both the level of the holding company and the lines of business.