EFG-Hermes Holding Company
Encyclopedia
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%.
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 several of the two firm's founders had Wall Street experience in corporate finance, sales & trading and asset management;, for example Hermes established the first equity index in all of Egypt.
In 1994, both Egyptian Financial Group and Hermes entered into asset management. Fueled by organic growth
; the two firms also accounted for lead managing a majority of the privatization capital markets IPO's during 1995 and 1996. The two companies soon reached the point that further growth was not possible without a wider network of local and international clients on one hand, as well as the rising competitive threat of international investment banks in the progressively more active Egyptian market in terms of investment baking privatization transactions as well as higher trading volumes . These factors led to a merger in 1996 between EFG and Hermes.
, and member of the Advisory Council of the Emerging Markets Private Equity Association (EMPEA), USA and treasurer of the American Chamber of Commerce in Egypt.
Mr. El Mallawany has played a major role in the consolidation of the investment banking sector in Egypt
, facilitating the emergence of EFG-Hermes as the Arab regions most prominent investment bank. He began his career with Commercial International Bank (CIB), formerly Chase National Bank, where he has worked for 16 years, culminating in the position of General Manager of the Corporate Banking division.
plc, Sainsburys, Heineken
, PepsiCo
, Orascom Telecom, Pirelli
and Bayer
. Mr. Heikal was also instrumental in pushing EFG-Hermes acquiring the stake in Bank Audi
in 2006.
Securities Brokerage facilitates transactions for institutions, high net worth individuals and retail clients in all the major MENA
markets. For many years EFG-Hermes has held a high position as a securities broker on the Cairo and Alexandria stock exchange (CASE
) and has maintained the #1 position in the UAE. In KSA, the brokerage arm reached the #2 position among the 9 independent brokerage companies.
Total Assets under Management are currently above US$ 7.6 billion.
, real estate
, retail
, agriculture
and telecommunications.
Currently private equity manages six funds exceeding US$ 1 billion, in addition to the firm’s proprietary investments.
, Bayer
, Etisalat
, GlaxoSmithKline
, HSBC
, Kraft Foods
, MTC
, Nestlé
, Orascom and PepsiCo
. Major regional clients include Arafa Holding, Du
, Elsewedy Electric
, MIBank, NSGB, Olympic Group
, Oriental Weavers, Telecom Egypt
and Thuraya
.
EFG- Hermes is the only investment bank to have advised multiple governments in the region – Egypt
, UAE, Saudi Arabia
and Jordan
.
region as well as Strategy and Economics notes on 10 countries in the region.
region. Therefore, the company has made its priority to enter into the major financial hubs of the Middle-East, namely Egypt
, the United Arab Emirates
, Saudi Arabia
, Qatar
, Oman
, Kuwait
and Lebanon
.
Financial Market. The firm is also within the top two ranked brokers on the Abu Dhabi Securities Market. EFG-Hermes Brokerage UAE has branches in Dubai
, Abu Dhabi
, Ras Al Khaimah and Al Ain
.
In December 2005, EFG-Hermes was granted a license to conduct asset management and investment banking activities from the Dubai International Financial Centre (DIFC). EFG-Hermes UAE is regulated in this capacity by the Dubai Financial Services Authority (DFSA), an independent regulatory authority that operates to the standards of major financial centers such as London
and New York
. Out of Dubai
, the firm manages the region’s top performing funds and has closed a number of landmark investment banking transactions. In February 2006, EFG-Hermes UAE was also granted a license to conduct brokerage activities from within the DIFC and became the first regional trading, clearing and custody member of the Dubai International Financial Exchange
(DIFX), its wholesale exchange.
market on behalf of its foreign institutional clients, and is now able to serve a broader base of clients from its presence on the ground in Oman
.
Now a member of the EFG-Hermes Group, Vision Securities is one of Oman
’s leading local brokers and has market share of 9.2% and net profit after tax of USD 2.6 million as of end 2007.
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
and North Africa
North Africa
North Africa or Northern Africa is the northernmost region of the African continent, linked by the Sahara to Sub-Saharan Africa. Geopolitically, the United Nations definition of Northern Africa includes eight countries or territories; Algeria, Egypt, Libya, Morocco, South Sudan, Sudan, Tunisia, and...
(MENA) region and specializes in securities brokerage, asset management, investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
, private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
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
Cairo & Alexandria Stock Exchange
Egypt's Stock Exchange, now Egyptian Exchange , comprises two exchanges, Cairo and Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems.-History:...
(EGX) and London
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
(LSE) stock exchanges. EFG-Hermes has offices in Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, the United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
(UAE), the Kingdom of Saudi Arabia (KSA), Qatar
Qatar
Qatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its...
, Oman
Oman
Oman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
, Kuwait
Kuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
and Lebanon
Lebanon
Lebanon , officially the Republic of LebanonRepublic of Lebanon is the most common term used by Lebanese government agencies. The term Lebanese Republic, a literal translation of the official Arabic and French names that is not used in today's world. Arabic is the most common language spoken among...
with over 850 people from 30 nationalities. They serve clients from including the Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
, North Africa
North Africa
North Africa or Northern Africa is the northernmost region of the African continent, linked by the Sahara to Sub-Saharan Africa. Geopolitically, the United Nations definition of Northern Africa includes eight countries or territories; Algeria, Egypt, Libya, Morocco, South Sudan, Sudan, Tunisia, and...
, Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
and the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
In FY 2007, its market capitalization
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
exceeded USD 4.6 billion, shareholder
Shareholder
A shareholder or stockholder is an individual or institution that legally owns one or more shares of stock in a public or private corporation. Shareholders own the stock, but not the corporation itself ....
's equity was USD 1.7 billion and net profit
Net profit
Net profit or net revenue is a measure of the profitability of a venture after accounting for all costs. In a survey of nearly 200 senior marketing managers, 91 percent responded that they found the "net profit" metric very useful...
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 bankingInvestment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
firm in Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
when it was established 1984. Hermes was founded in 1993 under the newly promulgated Capital Markets Law 95. EFG created and analyzed privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
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
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
as several of the two firm's founders had Wall Street experience in corporate finance, sales & trading and asset management;, for example Hermes established the first equity index in all of Egypt.
In 1994, both Egyptian Financial Group and Hermes entered into asset management. Fueled by organic growth
Organic growth
In finance, organic growth is the process of businesses expansion due to increasing overall customer base, increased output per customer or representative, new sales, or any combination of the above, as opposed to mergers and acquisitions that are examples of inorganic growth. Typically, the...
; the two firms also accounted for lead managing a majority of the privatization capital markets IPO's during 1995 and 1996. The two companies soon reached the point that further growth was not possible without a wider network of local and international clients on one hand, as well as the rising competitive threat of international investment banks in the progressively more active Egyptian market in terms of investment baking privatization transactions as well as higher trading volumes . These factors led to a merger in 1996 between EFG and Hermes.
Yasser El-Mallawany-CEO and Board Member
Mr. El Mallawany is CEO of EFG-Hermes Holding Company and chairman of EFG-Hermes Private Equity. He is also chairman of ACE General and ACE Life Insurance, member of the Policies High Committee of the National Democratic Party, board member of the National Investment BankNational Investment Bank
National Investment Bank Ghana Limited, commonly referred to as National Investment Bank, normally abbreviated to NIB, is a commercial bank in Ghana. It is one of the twenty-seven licensed commercial banks in Ghana.-Overview:...
, and member of the Advisory Council of the Emerging Markets Private Equity Association (EMPEA), USA and treasurer of the American Chamber of Commerce in Egypt.
Mr. El Mallawany has played a major role in the consolidation of the investment banking sector in Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, facilitating the emergence of EFG-Hermes as the Arab regions most prominent investment bank. He began his career with Commercial International Bank (CIB), formerly Chase National Bank, where he has worked for 16 years, culminating in the position of General Manager of the Corporate Banking division.
Hassan Heikal-CEO and Board Member
Mr. Heikal joined EFG-Hermes in 1995 from Goldman Sachs, where he served in the Corporate Finance Division. He is credited with the growth of EFG-Hermes, particularly into new markets. Under his leadership, the group has advised clients such as VodafoneVodafone
Vodafone Group Plc is a global telecommunications company headquartered in London, United Kingdom. It is the world's largest mobile telecommunications company measured by revenues and the world's second-largest measured by subscribers , with around 341 million proportionate subscribers as of...
plc, Sainsburys, Heineken
Heineken
Heineken is a Dutch beer which has been brewed by Heineken International since 1873. It is available in a 4.6% alcohol variety in countries such as Ireland. It is the flagship product of the Heineken company and is made of purified water, malted barley, hops, and yeast. In 1886 H...
, PepsiCo
PepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
, Orascom Telecom, Pirelli
Pirelli
Pirelli & C. SpA is a diverse multinational company based in Milan, Italy. The company, the world’s fifth largest tyre manufacturer, is present in over 160 countries, has 20 manufacturing sites around the world and a network of around 10,000 distributors and retailers.Founded in Milan in 1872,...
and Bayer
Bayer
Bayer AG is a chemical and pharmaceutical company founded in Barmen , Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.-History:...
. Mr. Heikal was also instrumental in pushing EFG-Hermes acquiring the stake in Bank Audi
Bank Audi
Bank Audi S.A.L. is Lebanon's largest bank in terms of both customer deposits and total assets. Its roots date back to 1830, when Hanna Audi inherited his father's exchange business....
in 2006.
Securities Brokerage
Securities Brokerage facilitates transactions for institutions, high net worth individuals and retail clients in all the major MENA
MENA
The term MENA, for "Middle East and North Africa", is an acronym often used in academic, military planning and business writing.The term covers an extensive region, extending from Morocco to Iran, including the majority of both the Middle Eastern and Maghreb countries...
markets. For many years EFG-Hermes has held a high position as a securities broker on the Cairo and Alexandria stock exchange (CASE
Cairo & Alexandria Stock Exchange
Egypt's Stock Exchange, now Egyptian Exchange , comprises two exchanges, Cairo and Alexandria, both governed by the same board of directors and sharing the same trading, clearing and settlement systems.-History:...
) and has maintained the #1 position in the UAE. In KSA, the brokerage arm reached the #2 position among the 9 independent brokerage companies.
Asset Management
Asset Management offers a broad range of investment series to retail, institutional and high net worth investors. Currently the Asset Management team manages 21 funds covering various countries, strategies and sectors including Islamic funds, Money Market funds, Equity and Capital Guaranteed funds.Total Assets under Management are currently above US$ 7.6 billion.
Private Equity
Private Equity provides alternative investment opportunities for high net worth individuals and large institutional investors, who invest in a broad range of sectors, including industrialIndustry
Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...
, real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
, retail
Retail
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
, agriculture
Agriculture
Agriculture is the cultivation of animals, plants, fungi and other life forms for food, fiber, and other products used to sustain life. Agriculture was the key implement in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the...
and telecommunications.
Currently private equity manages six funds exceeding US$ 1 billion, in addition to the firm’s proprietary investments.
Investment Banking
Investment Banking covers public and private transactions including mergers and acquisitions, restructuring, privatization and advisories on the issuance of equity and debt financing. Major international clients include American ExpressAmerican Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
, Bayer
Bayer
Bayer AG is a chemical and pharmaceutical company founded in Barmen , Germany in 1863. It is headquartered in Leverkusen, North Rhine-Westphalia, Germany and well known for its original brand of aspirin.-History:...
, Etisalat
Etisalat
Emirates Telecommunications Corporation, branded trade name Etisalat is a UAE based telecommunications services provider, currently operating in 18 countries across Asia, the Middle East and Africa...
, GlaxoSmithKline
GlaxoSmithKline
GlaxoSmithKline plc is a global pharmaceutical, biologics, vaccines and consumer healthcare company headquartered in London, United Kingdom...
, HSBC
HSBC
HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. it is the world's second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine...
, Kraft Foods
Kraft Foods
Kraft Foods Inc. is an American confectionery, food and beverage conglomerate. It markets many brands in more than 170 countries. 12 of its brands annually earn more than $1 billion worldwide: Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oscar Mayer, Philadelphia, Trident, Tang...
, MTC
MTC
MTC may stand for:*Magnetic Torquer Coil, an interface used in satellite to control its finer movements*Management and Training Corporation, a contractor known for its private prisons*Mandarin Training Center at National Taiwan Normal University...
, Nestlé
Nestlé
Nestlé S.A. is the world's largest food and nutrition company. Founded and headquartered in Vevey, Switzerland, Nestlé originated in a 1905 merger of the Anglo-Swiss Milk Company, established in 1867 by brothers George Page and Charles Page, and Farine Lactée Henri Nestlé, founded in 1866 by Henri...
, Orascom and PepsiCo
PepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
. Major regional clients include Arafa Holding, Du
DU
- Universities and education :* Deakin University, in Australia* Delhi University, centrally located in Delhi, India* Disney University, a job training location at Walt Disney World, Florida, USA* Doshisha University, in Kyoto, Japan...
, Elsewedy Electric
Elsewedy Electric
'Elsewedy Electric is an Egyptian manufacturing company. It was founded in 1938 by the Elsewedy family.The company manufactures and sells integrated energy products and services in seven energy segments: Cables and accessories, electrical products, telecommunications, transformers, wind energy...
, MIBank, NSGB, Olympic Group
Olympic Group
Olympic Group is an Egyptian group of companies operating mainly in the field of domestic appliances. The main products it manufactures are washing machines, refrigerators, electric water heaters and gas cookers. It also operates in the fields of IT and real estate.It also owns the licensing rights...
, Oriental Weavers, Telecom Egypt
Telecom Egypt
Telecom Egypt or Telecom Egypt SAE , is Egypt’s main Telephone company. It started in 1854 with the first telegraph line in Egypt...
and Thuraya
Thuraya
Thuraya , the Arabic name of the Pleiades, is a regional satellite phone provider. Its coverage area is most of Europe, the Middle East, North, Central and East Africa, Asia and Australia....
.
EFG- Hermes is the only investment bank to have advised multiple governments in the region – Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, UAE, Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
and Jordan
Jordan
Jordan , officially the Hashemite Kingdom of Jordan , Al-Mamlaka al-Urduniyya al-Hashemiyya) is a kingdom on the East Bank of the River Jordan. The country borders Saudi Arabia to the east and south-east, Iraq to the north-east, Syria to the north and the West Bank and Israel to the west, sharing...
.
Research
The Research department provides high quality, independent research on nearly 90 companies in the MENAMENA
The term MENA, for "Middle East and North Africa", is an acronym often used in academic, military planning and business writing.The term covers an extensive region, extending from Morocco to Iran, including the majority of both the Middle Eastern and Maghreb countries...
region as well as Strategy and Economics notes on 10 countries in the region.
Strategy
EFG-Hermes global strategy relies heavily on expanding in the MENAMENA
The term MENA, for "Middle East and North Africa", is an acronym often used in academic, military planning and business writing.The term covers an extensive region, extending from Morocco to Iran, including the majority of both the Middle Eastern and Maghreb countries...
region. Therefore, the company has made its priority to enter into the major financial hubs of the Middle-East, namely Egypt
Egypt
Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
, the United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
, Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
, Qatar
Qatar
Qatar , also known as the State of Qatar or locally Dawlat Qaṭar, is a sovereign Arab state, located in the Middle East, occupying the small Qatar Peninsula on the northeasterly coast of the much larger Arabian Peninsula. Its sole land border is with Saudi Arabia to the south, with the rest of its...
, Oman
Oman
Oman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
, Kuwait
Kuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...
and Lebanon
Lebanon
Lebanon , officially the Republic of LebanonRepublic of Lebanon is the most common term used by Lebanese government agencies. The term Lebanese Republic, a literal translation of the official Arabic and French names that is not used in today's world. Arabic is the most common language spoken among...
.
United Arab Emirates
EFG-Hermes launched its brokerage activities in the UAE in early 2005, and by early 2007 had captured dominant market share on DubaiDubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
Financial Market. The firm is also within the top two ranked brokers on the Abu Dhabi Securities Market. EFG-Hermes Brokerage UAE has branches in Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
, Abu Dhabi
Abu Dhabi
Abu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...
, Ras Al Khaimah and Al Ain
Al Ain
Al Ain |Spring]]), also known as the Garden City due to its greenery, is the second largest city in the Emirate of Abu Dhabi and the fourth largest city in the United Arab Emirates. With a population of 374,000 , it is located approximately 160 km east of the capital Abu Dhabi and about...
.
In December 2005, EFG-Hermes was granted a license to conduct asset management and investment banking activities from the Dubai International Financial Centre (DIFC). EFG-Hermes UAE is regulated in this capacity by the Dubai Financial Services Authority (DFSA), an independent regulatory authority that operates to the standards of major financial centers such as London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
. Out of Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
, the firm manages the region’s top performing funds and has closed a number of landmark investment banking transactions. In February 2006, EFG-Hermes UAE was also granted a license to conduct brokerage activities from within the DIFC and became the first regional trading, clearing and custody member of the Dubai International Financial Exchange
Dubai International Financial Exchange
NASDAQ Dubai , is a stock exchange opened on September 26, 2005, in Dubai, United Arab Emirates.-Listed products and market status:...
(DIFX), its wholesale exchange.
Kingdom of Saudi Arabia
EFG-Hermes was granted a license from the Saudi Capital Market Authority (CMA) to launch its operations in the Kingdom of Saudi Arabia in March 2007 offering securities brokerage, investment banking, asset management and research services in the largest investment market in the region. The brokerage arm reached the #1 position among the 12 independent brokerage companies, despite having started trading properly only in 3Q 07.Qatar
EFG-Hermes established its business in Qatar at the end of 2007 having been granted a license by the Qatar Financial Centre Authority (QFCA) for investment banking and asset management business.EFG-Hermes Qatar is a joint venture, fully managed and 51% owned by EFG-Hermes and is capitalized at USD 37 million.Oman
In April 2008, EFG-Hermes acquired 51% of Vision Securities Co. LLC in Oman at a PE ratio of 11.5 compared to EFG-Hermes’ PE ratio of 16.6.EFG-Hermes has long since accounted for substantial flows into the OmaniOmani
Omani may refer to:* Something of, from, or related to Oman, an Arab coujntry in southwestern Asia** A person from Oman or of Omani descent, collectively referred to as Omanis; see Demographics of Oman and Culture of Oman...
market on behalf of its foreign institutional clients, and is now able to serve a broader base of clients from its presence on the ground in Oman
Oman
Oman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
.
Now a member of the EFG-Hermes Group, Vision Securities is one of Oman
Oman
Oman , officially called the Sultanate of Oman , is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula. It is bordered by the United Arab Emirates to the northwest, Saudi Arabia to the west, and Yemen to the southwest. The coast is formed by the Arabian Sea on the...
’s leading local brokers and has market share of 9.2% and net profit after tax of USD 2.6 million as of end 2007.