EFG Hermes, the leading investment bank in the Arab world, announced today that distinguished finance industry veteran, Khalid Ellaicy has been appointed as the firm’s new CFO. Ellaicy joins the firm with decades of invaluable experience with global and regional multinationals.
Cairo, Egypt — EFG Hermes, the leading investment bank in the Arab world, announced today that the firm’s Board of Directors convened on 16 December and appointed Karim Awad as Group Co-CEO of EFG Hermes Holding with immediate effect.
Cairo, Egypt — EFG Hermes leading investment bank in the Arab world, announced today that InfraMed has made a c. USD 40 million investment in Jordan’s first utility-scale wind farm. The transaction gives InfraMed a 50% stake in the Jordan Wind Project Company (JWPC), which is building the 117 MW Tafila Wind Farm. The USD 290 million Tafila project will increase Jordan’s total power generation capacity by 3%, producing 400 GWh of electricity annually.
A Catalyst for Implementation of the Economic Investment Plan We believe that Dubai’s Expo 2020 win will lead to an acceleration in the implementation of the investment plan. This is linked to the wider plans to increase capacity in the core sectors of the economy, and beyond the Expo site and associated infrastructure. We estimate that the successful bid could add 0.5-1.0 percentage points (pp) to UAE’s real GDP growth in the next few years, accelerating closer to the event, as construction activity picks up and with the event itself. We currently estimate (ie, without factoring in the Expo win) real non-GDP growth of 4.5-5.0% for the next two years.
A sixth straight number-one ranking in this year’s Euromoney Research Survey underscores the resilience and ingenuity of the top-notch research team at EFG Hermes; sustained commitment to providing clients with the insight they require to navigate the changing markets of the MENA region has placed the firm well ahead of its global and regional competitors.
Investment Banking division closes high-profile GCC transaction while Securities Brokerage continues leadership in key markets and Asset Management remains atop league tables relative to peers
EFG Hermes Asset Management capitalizes on the stellar performance of its conventional and Islamic equities funds in 2012 and maintains momentum throughout 2013 as investment appetite starts to return in Egypt; The award-winning team is named “Egypt Asset Manager of the Year” by EMEA Finance
Dubai, UAE — EFG Hermes, the leading investment bank in the Arab world, announces the technical listing of the Bank of London and the Middle East on the NASDAQ Dubai Exchange under the name BLME.
After a nearly two-decade run with the firm during which time he was an architect of EFG Hermes’ regional expansion and large capital base, Hassan Heikal will leave his post as Co-CEO and his appointment to the firm’s Board of Directors to focus on helping devise economic initiatives in Egypt
At the largest MENA investor conference in the United Kingdom, senior management of leading listed Middle East and North Africa companies will give first-hand insights into their recent performance, showcasing value opportunities to global investors with combined AUM in excess of USD 5 trillion
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