EFG Hermes has continued to build upon its existing range of products by launching the HSBC Bank Egypt second Fund, introducing an innovative fund structure into the Egyptian market. The Fund launch was a result of the successful partnership between EFG Hermes and HSBC Bank Egypt a multinational leading bank in the market and a member of the HSBC Group.
EFG Hermes announced today its sponsorship of "Bassim Magdy Art Exhibition," that took place on May 5th at Town House Gallery, Cairo Egypt. The Firm announced it is proud and pleased to be linked to "young and established Egyptian talents." Believing that creativity is a hallmark of its corporate culture, the Firm's sponsorship of the event also comes in the light of its longstanding support for arts and culture across the region, since it has been keen to support many cultural events and art exhibitions in the countries where its clients and employees exist.
EFG Hermes, following the conclusion of its General Assembly, has announced that Ms. Mona Zulficar, the renowned lawyer and member of the Board of Governors of the Human Rights Counsel to the United Nations, has been appointed non-Executive Chairman to the Board.
Driven in part by the continued growth of the firm across the region, which has seen expansion into the UAE, Saudi Arabia and Qatar over the last three years, the new building – which is being developed within Smart Village in Cairo – will have a 4000sq/m footprint and the capacity to hold approximately 900 of the group’s staff.
Originally launched with a cap of LE100m, the fund has been oversubscribed to the amount of LE152,835,800, taking advantage of EFG Hermes’ regional expertise in Fund management, along with the Principal Bank for Development and Agricultural Credit’s high level of distribution throughout Egypt.
Bank Audi SAL announces that it is holding exploratory discussions with EFG Hermes Holdings SAE regarding a possible combination of the two institutions which, if it takes place, may generate significant commercial and financial synergies.
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